US equity futures fell further on Friday, extending the previous session’s decline as investors reassessed speculative bets on major AI infrastructure names. Futures tied to the three main benchmarks were down about 1%. Shares leveraged to AI demand deepened yesterday’s slide, following mounting analyst concerns—sparked by Nvidia’s earnings call—that current levels of AI infrastructure spending may not be sustainable. Nvidia dropped 5.5% yesterday and traded lower in pre-market action, while Broadcom, Oracle, and CrowdStrike were each more than 2% weaker ahead of the open.
Defensive stocks also lost ground, reflecting a shift in market preference toward long-duration Treasuries, even as worries over persistent inflation lingered. Producer prices for January declined less than expected, and the core measure unexpectedly rose. Dell jumped 11% after issuing a strong forecast for AI server demand, while CoreWeave tumbled 12% after missing profit expectations. Netflix gained 7% after withdrawing from the bidding process for Warner Bros.
