

The number they used for annualized revenue for these rapidly growing companies is taking the most recent month’s revenue and multiplying it by 12. It’s not a guarantee about the future, but it is misleading.
The extreme version is taking a good week’s revenue and multiplying it by 52, or even worse, multiplying a day by 365. Those are outright dishonest. But not accounting fraud, because it’s not accounting at all.


Financial Times smells blood in the water. They’ve been reporting on leaked OpenAI documents for a bit the last few weeks.
If the major financial outlets start reporting on the negative, there may be a sentiment shift that does actually destroy the companies propped up by hype rather than fundamentals.