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Tech stocks today: Tech rally loses steam, Sam Altman to take stand in OpenAI v. Musk trial

Yahoo Finance

Tue, May 12, 2026 at 8:14 PM GMT+8

1 min read

The rally i...

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Updated just now

Tech stocks today: Tech rally loses steam, Sam Altman to take stand in OpenAI v. Musk trial

Yahoo Finance

Tue, May 12, 2026 at 8:14 PM GMT+8

1 min read

The rally in tech stocks looked poised to take a breather on Tuesday after chip stocks helped propel the major stock market indexes to

all-time highs on Monday

.

UAE-based AI chipmaker Cerebras is expected to make a splashy public debut. The company filed paperwork Monday increasing its initial public offering to 30 million shares with the goal of raising up to $4.8 billion,

Bloomberg reported

. The startup counts Amazon (

) and OpenAI (

OPAI.PVT

) among its customers, and its inital public offering is likely to be the biggest IPO of 2026 so far.

In other tech news, Tesla (

) CEO Elon Musk and Apple CEO Tim Cook were invited to join the US delegation to Beijing, Bloomberg reported. President Trump and Chinese President Xi Jinping are scheduled to meet later this week to discuss trade, the war in Iran, powerful AI models, and more.

Meanwhile, the Elon Musk versus OpenAI (

OPAI.PVT

) trial has entered its third week. Microsoft (

) CEO Satya Nadella took the stand on Monday, outlining Microsoft’s relationship with the AI startup, and noted that he was never given clarity about why CEO Sam Altman was fired from the company in November 2023.

OpenAI CEO Sam Altman will take the witness stand on Tuesday and Wednesday.

Musk’s lawsuit against one of the world’s most valuable private companies has provided a number of details about the inner workings of OpenAI and the relationships between Musk, his fellow co-founders, Altman, and president Greg Brockman, former chief technology officer Mira Murati, and former board member, and mother of four of Musk’s children, Shivon Zilis.

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OpenAI chief Altman to take stand in OpenAI-Musk trial on Tuesday

Reuters reports:

OpenAI (

OPAI.PVT

) Chief Executive Officer Sam Altm

来源: Brave/finance.yahoo.com

采集时间: 2026-05-12 20:16:28