- FT reported OpenAI ARR $20B lower than previously signaled
- OpenAI did not comment
- Analysts cite measurement differences between OpenAI and Anthropic
- Firmus Grid scrapped $5B Australian IPO
- Nvidia is an investor in Firmus
- Nvidia shares rose 1.4% in premarket trading Friday, recovering most of the prior session's 2.9% loss. That decline followed a Financial Times report that OpenAI's annualized recurring revenue was $20 billion lower than previously signaled. OpenAI did not comment. Wall Street analysts and other reports suggested the discrepancy stems from differences in how OpenAI and rival Anthropic measure revenue, including whether cloud-computing partner revenue is counted. Separately, cloud-computing company Firmus Grid scrapped plans for a $5 billion IPO in Australia after investors rejected its proposed $30 billion valuation—nearly three times its $10.5 billion valuation two months ago. Nvidia has invested in Firmus, which rents chips and computing capacity to customers including OpenAI and Meta Platforms. An independent analyst said Firmus will now raise money privately and remains attractive, but the $30 billion ask was too high.
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