GoKawiilThis is CNBC's Morning Squawk newsletter. Subscribe here to receive future editions in your inbox. Happy Tuesday. Shares of key players in the artificial intelligence trade — like Oracle , Nvidia and SoftBank Group — are all falling this morning following a report that OpenAI missed internal targets for revenue and user growth. Stock futures are mixed in pre-market trading. The S&P 500 and Nasdaq Composite both recorded new record highs yesterday. Here are five key things investors need to know to start the trading day:
1. The stage is set
Sam Altman, CEO of OpenAI (L) and Elon Musk, CEO of Tesla. Reuters
The nine-person jury was seated yesterday in the high-profile trial between OpenAI CEO Sam Altman and Tesla CEO Elon Musk. Opening arguments in the $134 billion suit are set to begin this morning in California federal court. Here's what to know before trial kicks off: Musk is suing OpenAI, Altman and the AI lab's president Greg Brockman, alleging that they went back on their promise to keep the company a nonprofit.
Judge Yvonne Gonzalez Rogers has divided the trial into two parts: a liability phase to determine if any wrongdoing has taken place, followed by a remedies phase focused on next steps.
The jury will only weigh in during the first phase, and only in an advisory capacity, meaning Gonzalez Rogers will ultimately make the final decision in both parts of the trial.
On Monday, lawyers for the two sides gauged potential jurors' views of Musk, Altman and artificial intelligence, leading some to admit to having a negative perception of Musk due to his political views. "The reality is people don't like him," Gonzales Rogers said.
Altman and Greg Brockman — both of whom Musk has pushed to oust as part of his suit — were in the courtroom yesterday.
CNBC will cover the trial from the courtroom, live on TV and online. Tune in here.
2. Under consideration
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