Closing Bell 10/8/26

A revenue accounting change at OpenAI exposed how deeply the market's gains are concentrated in and dependent on AI-linked names.

• OpenAI revenue restated lower: Sources tell CNBC OpenAI's annualized revenue is $50B, not the previously reported $68-70B, after stripping out cloud-partner gross revenue; disclosed amid a fundraise targeting $30B more at a $1.4T valuation.
• Market read-through: Nasdaq fell 1.3% on the FT report, hitting NVIDIA, AMD, Broadcom (building OpenAI's 'Jalapeño' chip), Oracle (OpenAI is 50% of its backlog), CoreWeave and Nebius.

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