The overall U.S. stock indices are looking too weak. All the FUD around Anthropic challengers and the slowdown in ARR's second derivative, coupled with its upcoming IPO, gives off a vibe similar to the tense atmosphere before SPCX went public. Looking back, while SPCX's IPO didn't directly crash the market, liquidity and sector rotation speed significantly increased starting that month. July even kicked off a major correction. So, the second trillion-dollar heavyweight truck's impact on the overall AI sector (excluding AI healthcare) is unlikely to be a positive driver. Walmart's $WMT earnings report today also showed signs of cooling on the consumer side. As for semiconductors, although today's pullback didn't continue yesterday's decline due to a slight uptick in Korean stocks, it still wasn't strong amid the overall index correction. Plus, NVIDIA's earnings report on 8/26 is getting closer, and market funds are clearly shifting into a defensive retreat mode.