Tech stocks today: OpenAI's growth disappoints, Meta trial continues

Tech stocks today: OpenAI's growth disappoints, Meta trial continues

Daniel Howley · Technology Editor

Updated Wed, August 19, 2026 at 3:42 PM GMT+3 1 min read

• META -4.45%

Tech stocks were flat in pre-market action Wednesday after a slightly down day yesterday that saw the Philadelphia Semiconductor Index drop nearly 5%.

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.

The AI lab is preparing to go public in September or October, and The Financial Times reports that investors are targeting a $2 trillion valuation.

Meta's social media addiction trial continues today in Oakland, Calif., today following opening remarks 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 that the trial could leave it exposed to as much as $1.4 trillion in damages, but the state attorneys general dispute that number.