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Stocks, and particularly Semis/AI names, got a bit of jolt from some headlines about OpenAI. Per Bloomberg, OpenAI's revenue projections are lower than what some had assumed ($50B annualized vs ~$70B) And Google has a new Gemini agent for the workplace, adding to competition in that space.

8/10/26, 7:52 pm0 reposts5 likes

Mill Street Research

@millstreetresearch.com

The SOX index is down -3.8% ahead of the close, weighing on the NASDAQ and S&P 500. The S&P 500 Equal-weight (RSP) is up 0.6% today. This is likely due to the drop in bond yields, with the 10-year yield down to 5.22% even with oil prices up today. Tech down, rest of the market holds up . . .