Tech Up Slightly Even as Amazon Weighs - Tech Roundup

Shares of technology companies rose slightly as momentum in artificial-intelligence bets remained stalled.

The Federal Trade Commission is preparing a lawsuit against Amazon.com alleging that the e-commerce giant manipulated prices businesses paid to advertise on its retail platform, reaping tens of billions of dollars for itself over seven years.

Separately, AI model maker OpenAI said its ad business reached $1 billion in annualized revenue run rate, with the rapid growth revealing the potential for profitability and the threat posed to digital ad incumbents such as Alphabet's Google and Meta Platforms.

Chinese technology behemoth Huawei Technologies, a company central to Beijing's push for self-sufficiency, reported a drop in first-half net profit despite higher revenue, as spending on research and development surged.

President Trump warned Monday that communities that don't embrace data centers will "end up being backwards and poor," putting himself at odds with most Americans who say they don't want the facilities that power AI to be built near them.

Write to Rob Curran at rob.curran@dowjones.com

(END) Dow Jones Newswires

August 31, 2026 17:35 ET (21:35 GMT)