---
type: "Topics"
locale: "en"
url: "https://longbridge.com/en/topics/40271921.md"
description: "$NVIDIA(NVDA.US)$Taiwan Semiconductor(TSM.US)OpenAI's growth fell short of expectations, which may not indicate insufficient AI demand, but could also mean that previous product supply was constrained by computing power.If there's not enough computing power, OpenAI would face several issues: limited experience for free users, downgrades for Plus or Pro users, slow speeds for complex tasks, high costs for context and deep reasoning, and affected availability and stability of enterprise APIs. This would suppress both user growth and paid conversions. The recently launched version 5.5 is noticeably better, and Codex has also improved. This might indicate that model capabilities, reasoning computing power, and system scheduling capabilities have all improved simultaneously.So this can be interpreted in two ways:Pessimistic interpretation: OpenAI missing its target shows that AI user growth and revenue realization are not as fast as the market imagined, and the large computing power contracts might overwhelm cash flow in the future.Optimistic interpretation: OpenAI previously didn't lack demand, but rather had insufficient supply. Inadequate computing power limited product experience, which in turn suppressed growth below its theoretical potential. Now, with the significantly improved experience of version 5.5, it actually shows that massive capex is translating into better products. In other words, AI capex isn't wasteful; it's filling infrastructure gaps.Tomorrow's earnings reports from AMZN, GOOG, and MSFT will provide further insight."
datetime: "2026-04-28T23:44:56.000Z"
locales:
  - [en](https://longbridge.com/en/topics/40271921.md)
  - [zh-CN](https://longbridge.com/zh-CN/topics/40271921.md)
  - [zh-HK](https://longbridge.com/zh-HK/topics/40271921.md)
author: "[牛猫招财](https://longbridge.com/en/profiles/15691097.md)"
---

# $NVIDIA(NVDA.US)$Taiwan Semiconductor(TSM.US)OpenA…


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## Comments (7)

- **吉姆哈克的交易员 · 2026-04-29T04:58:19.000Z · 👍 2**: OpenAI has taken the lead over the other two of the "Big Three".Model intelligence degradation is a scientific issue, not an engineering one.It can be understood this way: OpenAI is the first company to discover and solve this problem. Among the other two of the "Big Three", Gemini h
- **玛卡巴卡· · 2026-04-29T02:38:43.000Z · 👍 3**: It's just rehashing old news. Everyone knows that OpenAI's models have been quite stupid over the past six months, losing a lot of market share to A and G. But now? Now they've fought back, clearly indicating a different expectation again. The market is too emotional.
  - **牛猫招财** (2026-04-29T03:05:43.000Z): Yes, it seems the same issue is happening with Gemini too. It felt quite useful last year and at the beginning of this year, but now it's become significantly less intelligent.
  - **玛卡巴卡·** (2026-04-29T03:12:35.000Z): Ultimately, it's still a matter of computing power. OpenAI remains far ahead in terms of computing resources, having secured a lot of it. The arms race is a constant game of catch-up. That's why I mys
  - **牛猫招财** (2026-04-29T03:16:44.000Z): I use all three of them and can clearly feel their changes.
- **Little mouse · 2026-04-29T01:46:04.000Z · 👍 1**: Open AI not meeting the target is just a catalyst; the root cause is still that it has risen too much and needs a correction.
  - **牛猫招财** (2026-04-29T02:01:08.000Z): No need to worry about rising too much, as long as fundamental issues are ruled out