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

Tech stocks experienced a slight uptick on Friday, as traders awaited a series of significant earnings reports next week. Nvidia's upcoming Q2 earnings on August 26 are expected to impact various sectors, from hyperscalers to smaller companies. Anthropic, an AI startup, is reportedly planning to file for an IPO by the end of the month, aiming for a valuation exceeding $75 billion, similar to SpaceX's successful 2020 IPO.

Meta's ongoing trial in Oakland, California, involves allegations that the company intentionally designed its services to keep children online for extended periods, causing potential psychological harm. The trial, which includes attorneys general from four states, could result in up to $1.4 trillion in damages, though the AGs dispute this figure.

Anthropic is set to file for an IPO, providing investors with insight into the company's financials, including revenue growth and key business segments. With revenue growing at a significant rate of 14x in the latest quarter, Anthropic is challenging OpenAI's dominance in the AI market. Meanwhile, SpaceX's stock faced a decline following the release of 319 million shares through a staggered lockup, with the IPO price falling below the $135 initial offering price.