US stock futures traded mixed on Tuesday as OpenAI (OPAI.PVT) doubts weighed on tech stocks, while markets waited for the US response to Iran’s olive branch.

Nasdaq 100 (NQ=F) futures sank 0.9%, and those on the S&P 500 (ES=F) pulled back 0.4% on the heels of Monday’s record-high closes. But contracts on the Dow Jones Industrial Average (YM=F), which includes fewer tech stocks, rose 0.3%.

OpenAI has fallen short of its own targets for sales and users ahead of its highly anticipated IPO, The Wall Street Journal reported. Shares of partners such as Oracle (ORCL) slumped in premarket amid revived concerns about how long the AI spending boom will last.

Investors are now on high alert for clues to AI plans as the “Magnificent Seven” tech megacaps report quarterly results this week. Alphabet (GOOG), Amazon (AMZN), Meta (META), and Microsoft (MSFT) are on Wednesday’s docket, with Apple (AAPL) following the next day.

Meanwhile, Wall Street is watching for progress on peace talks, as the US-Iran standoff keeps Strait of Hormuz traffic at a standstill. President Trump will address Iran’s proposed interim deal to lift the blockade soon, the White House said, though Trump is reportedly not happy with the terms.

Also in focus, the Federal Reserve begins its two-day meeting on Tuesday. Policymakers are expected to hold rates steady in their decision on Wednesday, and investors will listen out for Fed Chair Jerome Powell’s comments as his term draws to a close.