u/app1310

Shares of Nvidia, Oracle, CoreWeave and other artificial intelligence names sank lower on Thursday after the market learned more details about OpenAI’s revenue.

OpenAI told investors that it hit roughly $50 billion in annualized revenue at the end of September, CNBC confirmed, lower than the the $68 billion figure that was widely reported late last month. A person familiar with the matter said the $68 billion figure included gross revenue from OpenAI’s partners, which helps investors make a more direct comparison with its chief rival, Anthropic.

The Financial Times was first to report the $50 billion figure.

OpenAI shared an update about its finances in an investor presentation, said the person, who asked not to be named in order to discuss the numbers. In addition to the $50 billion in annualized revenue, OpenAI touted 77% total run rate growth during its third quarter, as well as 107% run rate growth for its enterprise business during the same period, the person said.

The company is under pressure to justify its $852 billion valuation to investors as it gears up for what is widely expected to be a blockbuster IPO. OpenAI confidentially filed its prospectus with regulators in June, and executives have signaled that the company is eyeing a 2027 debut.

YouTube has tapped Amazon.com Inc. as its newest affiliate partner in YouTube Shopping, part of the video giant's push to prioritize e-commerce as one of its next big bets.

YouTube creators can now seamlessly tag Amazon products in their videos and livestreams, driving more business directly to the enormous global marketplace while taking a cut from sales.

Though YouTube Shopping has yet to gain the same traction as rival TikTok Shop, more than one million of YouTube's roughly three million creators who are able to make money on the platform are part of its shopping program today.

People are selling everything from tech gadgets and home goods to fashion and beauty products to an audience watching 110 million hours of shopping-related videos on YouTube each day, whether through product reviews, get-ready-with-me videos, outfit hauls or makeup tutorials.

YouTube Shopping lets creators tag products sold by thousands of sellers, from small brands and direct-to-consumer retailers to the likes of Walmart, Sephora and Home Depot. (Google's leading artificial intelligence tool Gemini has made tagging even simpler).

Viewers can click to get more information and buy a product, with creators earning a commission from every purchase. YouTube's shopping tags drive about twice as much engagement as an affiliate link buried in a video description, making it much easier for creators to earn commissions.

Until now, creators couldn't easily tag Amazon products, despite the company being one of YouTubers' most-requested partners.

TikTok cut its own deal with Amazon two years ago, letting users shop for Amazon products through ads without leaving the TikTok app. Though YouTube may have some catching up to do. But it's pretty uniquely positioned to excel at e-commerce in a way that's different from more traditional social media platforms.

U.S. Treasury yields increased on Tuesday, as renewed tensions in the Middle East drove global government borrowing costs to their highest point going back to early last year.

The 10-year Treasury note yield - the main benchmark for mortgages, auto loans and credit card debt - rose 3 basis points to 4.788% and hit its highest level since Jan. 14, 2025.

The longer-dated 30-year Treasury bond yield, which tends to track geopolitical events, was up more than 2 basis points at 5.272%.

The yield on the 2-year Treasury note, which typically moves in line with short-term Federal Reserve interest rate decisions, climbed more than 1 basis point to 4.362%.

Borrowing costs rose as traders continue to weigh developments in the Middle East after U.S. forces earlier launched fresh strikes against Iran, and a tanker was struck by unknown projectiles off the coast of Oman in the Strait of Hormuz.

The escalation pushed oil prices higher. West Texas Intermediate futures were last seen more than 1% higher at above $87 per barrel, while Brent crude - the international oil price benchmark - advanced more than 1% to above $92.

Investors are also monitoring the G20 finance ministers’ meeting in Asheville, North Carolina, which is set to conclude later Tuesday, as well as a raft of domestic economic data, including the ISM Manufacturing PMI print and the Job Openings and Labor Turnover Survey, with nonfarm payrolls figures expected Friday.