Stock futures were lower early Friday as a selloff in tech gathered pace amid mounting concerns over the rising cost of artificial intelligence infrastructure.
Futures for the Dow Jones Industrials slid 44 points, or 0.1%, to 52,298.
Futures for the S&P 500 index weakened 33 points, or 0.5%, to 7,390.25.
Futures for the NASDAQ Composite shed 332.75 points. or 1.1%, to 29,392.50.
Stocks fell off, led by a 13% slide in On Semiconductor after the chipmaker agreed to acquire Synaptics for $7 billion. Sandisk and Micron Technology, meanwhile, slid more than 5% each.
Micron Technology’s shares tumbled on Friday, paring gains from earlier in the week after reporting blowout earnings.
The memory chipmaker declined nearly 5% in premarket trading as other U.S. semiconductor firms also struggled. Intel was last down just over 3%, Sandisk fell 5%, Arm shed 4%, and Marvell declined 3.7%.
Investors remain wary of the rising costs of artificial intelligence infrastructure, with the selloff reverberating across global markets.
In Japan, the Nikkei 225 dropped 4.2% Friday, while in Hong Kong, the Hang Seng shed 1.8%.
Oil prices faltered $2.21 to 69.71 cents U.S. a barrel.
Gold prices gained $21.20 to $4,068.50 U.S an ounce.
