Stock Market Update

[BRIEFING.COM] The S&P 500 (-0.6%), Nasdaq Composite (-1.0%), and DJIA (-0.3%) are charting new session lows as the market enters the final half hour of trading. 

Mega-cap names continue to see considerable profit-taking this afternoon, widening losses in the consumer discretionary (-1.4%), information technology (-1.3%), and communication services (-0.7%) sectors. 

NVIDIA's (NVDA 178.09, -5.52, -3.01%) announcement yesterday to invest up to $100 billion in OpenAI as part of a strategy to deploy at least 10 gigawatts of NVIDIA systems lifted the major averages to record high levels. 

CNBC reported today that some senior investors remain skeptical of the partnership, citing doubts about the feasibility of meeting the 10-gigawatt energy requirement and concerns that the agreement resembles a vendor-financing arrangement.