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Tech & AI Daily — Monday, August 3, 2026
SOXL plunges nearly 7% as the chip-sector selloff resumes, while QQQ and VUG hold firm on hyperscaler AI spending optimism — exposing a sharp split inside tech. • Alibaba drops Qwen3.8-Max, an open-weight model it claims rivals the world's best closed frontier systems, intensifying the U.S.-China AI race. • A hallucinated SQLite vulnerability invented by an LLM was formally assigned a CVE, marking a dangerous new moment where AI 'slop' corrupts official security infrastructure. • Sam Altman publicly calls on the industry to 'pace the rate of AI development,' a notable rhetorical shift from…
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