Tech Rally Persists as OpenAI’s Atlas Pressures Alphabet and Warner Bros. Discovery Soars on Strategic Review

Investors refocused on company-specific catalysts after an AWS outage was resolved.

Overview

U.S. indexes were mixed Tuesday, with the S&P 500 up 0.1%, the Dow up 0.5% to a new high, and the Nasdaq down 0.2% after the prior day’s AWS disruption was cleared.
OpenAI launched ChatGPT Atlas, an AI-powered web browser that operates within pages across the web, and Alphabet shares fell about 2% intraday as investors weighed potential search risk.
Warner Bros. Discovery said its board began a strategic review that could include a sale, and the stock jumped roughly 11% to a 52-week high.
Beyond Meat surged 146% on Tuesday and about 350% over five days after Walmart expanded distribution, though a recent debt exchange increased dilution and leaves sustainability in question.
CoreWeave’s proposed purchase of Core Scientific drew opposition from major shareholder Two Seas Capital, and CoreWeave named former Amazon executive Jon Jones as its first chief revenue officer.