OpenAI reported Q2 revenue of $6.7B (up 18% QoQ from $5.8B in Q1) alongside worsening operating losses that grew from $9.3B to $12.3B, while Anthropic doubled its revenue to $11.6B for the same period. Following these reports, high-beta and semiconductor stocks dropped after hours due to lower-than-hoped-for growth raising concerns about capex commitments.