Tech stocks today: OpenAI's growth disappoints, Nvidia earnings provide next test for AI trade

Tech stocks today: OpenAI's growth disappoints, Nvidia earnings provide next test for AI trade

Daniel Howley · Technology Editor

Updated Wed, August 19, 2026 at 11:03 PM GMT+3 1 min read

Tech stocks slid in early trading Thursday, as the Nasdaq fell 0.82%, after a slight rebound on Wednesday.

The next big test for the AI trade is less than a week away, as Nvidia prepares to report its quarterly earnings on Aug. 26. The announcement will have a wide-ranging impact on everything from hyperscalers to fellow pick-and-shovel companies.

OpenAI's latest revenue growth numbers didn't win many fans among investors, according to The Wall Street Journal.

The company reported Q2 revenue of $6.7 billion, up 18% from the prior quarter. Rival Anthropic, meanwhile, is reportedly pulling in huge revenue numbers. According to Bloomberg, the company saw its preliminary quarterly revenue jump 14x to $11.5 billion from $787 million a year ago.

Meta's social media addiction trial continues today in Oakland, Calif., following opening remarks on Tuesday.

A collection of 29 state attorneys general is suing the social media giant over claims that it purposely developed its services to keep children online as long as possible and caused psychological harm. The trial is a test case for that larger suit and involves the attorneys general from four states.

Meta claims the trial could leave it exposed to as much as $1.4 trillion in damages, but state attorneys general dispute that figure.