S&P 500 Futures Little Changed as AI Shares Slide
U.S. stock futures edged higher Friday after OpenAI’s revenue report unsettled AI investors. The S&P 500 fell 0.5% on Thursday, while the Nasdaq Composite…
U.S. stock futures edged higher early Friday after OpenAI’s revenue report unsettled investors in artificial intelligence shares, with S&P 500 futures up 0.3%. The move followed losses on Wall Street, where the tech-heavy Nasdaq Composite fell more than 1% on Thursday.
Nasdaq 100 futures added 0.49%, while Dow Jones Industrial Average futures advanced 105 points, or 0.2%, according to CNBC. The contrasting moves showed investors weighing the revenue report against the broader market’s recent performance.
OpenAI told investors it saw $50 billion in annualized revenue at the end of September, CNBC reported. A $68 billion figure had been widely reported last month, but a person familiar with the matter said that figure also included gross revenue from partners.
The distinction put pressure on AI-related stocks. CoreWeave fell more than 7% on Thursday, while Oracle, Intel and Super Micro Computer each lost around 5%. Advanced Micro Device slid close to 4%, and Nvidia shed almost 3%.
“If we have a number of days like this ... we could see a real rout in AI-related names,” Kristina Hooper, chief market strategist at Man Group, said on CNBC’s “Closing Bell: Overtime.” “That could sour investors.”
The sell-off reached the wider market. The S&P 500 lost 0.5%, its second consecutive session in the red. The Dow ended slightly above flat, while the Nasdaq Composite recorded its biggest one-day loss since mid August, CNBC reported.
Thursday was the Nasdaq’s second down day in a row, following fresh all-time records earlier in the week. For the week to date, the Dow and Nasdaq Composite were both around flat, while the S&P 500 was on track for a gain of 0.6%.
Investors weigh AI earnings and wider market signals
The revenue figures matter because investors have been closely tracking whether the growth behind the AI trade supports the high valuations of related companies. CNBC’s report prompted a reassessment, though the available figures distinguish OpenAI’s annualized revenue from a widely circulated total that included partner gross revenue.
That uncertainty carries a direct market risk: further pressure on AI shares could weigh on major indexes, as Thursday’s declines showed. Hooper’s warning pointed to the possibility of a broader retreat if similar sessions continue, rather than treating the move as limited to one company’s report.
Trading in Asia was mixed Friday. Japan’s Nikkei 225 was little changed, mainland China’s CSI 300 advanced 0.16%, Australia’s S&P/ASX 200 added 0.64%, and Hong Kong’s Hang Seng index was up 1.4% in its last hour of trade, CNBC reported.
European shares moved higher early Friday, with the Stoxx 600 up 0.8% at 8:18 a.m. in London. Mining stocks rose 1.8% amid concerns about a copper supply squeeze linked to strikes at several major operations. Retailers gained 1.6%.
Telecommunications shares fell more than 2% in Europe. Deutsche Telecom dropped 7% after a SpaceX spectrum deal rattled telecom companies, including AT&T, Verizon and T-Mobile, in extended trading. SpaceX shares rose 2% after the rocket company announced the deal to buy a nationwide spectrum portfolio.
Investors were also due to monitor Delta Air Lines earnings before the bell on Friday. October consumer sentiment data was expected in the morning, according to CNBC.
Source: cnbc.com
