Funny how fast the story changes.

Just a few hours ago everyone was panicking and dumping AI stocks because OpenAI was "only" approaching $50B in annualized revenue instead of the $70B that got reported.

Today Bloomberg says OpenAI expects to be at $70B by the end of the year.

So the number people panicked about them not having is the number they expect to hit in less than three months.

The FT story was really about how revenue gets counted, and the market still sold off like demand had disappeared. It hasn't.

The labs keep growing and they keep needing more compute, and I don't see that changing anytime soon.

This happens every single time, so know what you own and don’t sell into a FUD.