Amazon's stock sank on Thursday afternoon, weighed down by mixed guidance and AI competition, though the company beat Q2 earnings expectations.

In the midst of an artificial intelligence spending spree, Meta posted stronger-than-expected results for the second quarter, buoyed by growing ad revenue even as its expenses increased

Citi also raised its full-year revenue guidance to approximately $84 billion, the top end of its previous range ($83.1 billion to $84.1 billion). The bank also lifted its forecast for net interest income growth to about 4%, up from the prior range of 2% to 3%.