Alphabet Shares Fall as OpenAI Ad Run Rate Hits $1 Billion
Alphabet shares dropped about 3.7% to $333.70 as OpenAI’s digital advertising expanded rapidly. ChatGPT Ads reached an annualized $1 billion run rate months after U.S. testing began, with direct purchasing rolling into additional international markets. The report notes the growth accelerated tenfold from roughly $100 million per year in April.