Nasdaq futures slide as chip sell-off deepens on AI financing fears

Price ActionMacro Impact 4
โดย Dow Jones·Read original
Summary · why it matters

US tech stocks sank before the bell on Tuesday as a sell-off in Korean memory makers underscored concerns about AI circular financing deals. Contracts on the Nasdaq-100 fell 0.9%, while S&P 500 futures dropped 0.2%, though Dow Jones Industrial Average futures edged up 0.1%. South Korea's Kospi benchmark tumbled over 10% as shares in SK Hynix and Samsung Electronics sank more than 14% and 13%, respectively. Sentiment on the AI trade soured amid reports that Nvidia is exploring a $250 billion funding backstop for OpenAI, heightening worries about circular financing, and tech traders also grew nervous that Chinese competition is narrowing the AI gap with US companies, undermining prospects for a payoff. Oil prices continued to retreat after the US and Iran halted active fighting and President Trump said the two sides were in diplomatic talks. The Federal Reserve began its two-day policy meeting on Tuesday, with traders leaning toward a rate hold but lacking conviction, while a rate hike remains possible. Earnings reports are due from SK Hynix, Visa, Coca-Cola, Boeing, Ford, and PayPal, and an update on consumer confidence is expected at 10 a.m. ET.

Impact on stocks 9

Artificial Intelligence▼ · 2 stocks
NVIDIA Corporation
NVDA
▼ NegativeCapitalrelevance

Nvidia exploring $250B funding backstop for OpenAI raises concerns about circular AI financing, weighing on sentiment.

Consumer Staples▲ · 2 stocks
Digital Finance & Tokenization▲ · 2 stocks
Semiconductors▲ · 1 stocks
Defense & Geopolitical Fragmentation▲ · 1 stocks
Electrification & Mobility▲ · 1 stocks

Off-coverage companies 1

OpenAIPrivate± Mixed
relevance

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