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Tech, Chips, and the AI Arms Race — Tuesday, August 4, 2026
SOXL exploded +14.68% as chip stocks staged a massive snapback rally, with QQQ and VGT also hitting new recovery highs on a Microsoft-led, risk-on session fueled by falling oil prices. • OpenAI publicly fired back at Apple's lawsuit with a blog post full of 'receipts,' raising the stakes in a major legal battle over AI product rights and the ChatGPT-Siri integration deal. • MiniMax dropped H3, an open-weight multimodal model with native audio and 2K video generation, with day-one ComfyUI support — making it an instant open-source contender. • The EU AI Act's transparency rules are now legally…
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