Stocks rise ahead of key consumer inflation report: Live updates

OpenAI's Monday event highlighting its new desktop app and some refreshes 'raises the bar, again, for consumer chatbots,' according to Bank of America analyst Vivek Arya. He wrote in a Tuesday note that the event 'ups the ante for AI assistant,' adding that semiconductor stocks should see multi-year growth tailwinds from the computing and networking capabilities needed to appease the expanding AI use cases.

'Maintain Buy on benefits from GenAI at edge with gross margin upside and momentum in Services.' Even so, Rosenblatt's Barton Crockett views the event as a potential competitive pressure point for Alphabet ahead of its Google I/O event. The developments also seem to turn up the head on Apple, which has struggled for year to create similar capabilities for its Siri component, he added. 'We suspect that Apple is nowhere near, internally, to what OpenAI just demoed,' he wrote.

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