The Wall Street Journal reported that OpenAI failed to meet sales and user growth targets for multiple quarters in 2026, and even ChatGPT did not reach the 1 billion weekly active user goal by the end of 2025, while user churn remains. This directly raises market concerns about its "cash-burning model"—if revenue cannot keep up, the sustainability of future massive computing power investments will be questioned.

More importantly, there are structural changes:

Anthropic is grabbing market share in enterprise and coding scenarios, Google Gemini's user-side performance is also catching up, OpenAI is no longer unilaterally leading but is under pressure from both sides.

Over the past year, OpenAI-related targets have risen about 75%, while the Google chain has surged over 300%. Capital has already voted with its feet—shifting from the "strongest narrative" to "more certain realization."

I personally have always had a relatively negative view of this person Altman. Recently, Microsoft has also distanced itself from him, and Musk continues to argue with him on X. Could this chain potentially crash U.S. tech stocks in the short term and create another golden pit? 🤔