Tech Up as AI Momentum Stalls — Tech Roundup

November 18th, 2023

Shares of technology companies rose as momentum in artificial-intelligence issues slowed.

OpenAI said Mira Murati, the company’s chief technology officer, was named as interim chief executive officer, following the departure of Sam Altman.

“The surge in equity prices of late has been ferocious,” said JJ Kinahan, chief executive of IG Market North America, and president of its brokerage tastytrade. “Right now, both the S&P 500 and Nasdaq are just 2% off their respective intraday highs for the year.” is eliminating “several hundred” positions related to its Alexa smart assistant, the company said in a memo to employees.

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