December Nasdaq 100 E-Mini futures (NQZ26) are down -1.10% this morning as investors continued to trim their exposure to the AI trade.
The global rout in AI-related stocks continued on Thursday. A hot U.S. inflation report fueled expectations of higher interest rates, which would translate into higher borrowing costs. That could heighten credit risks for AI-related companies and disrupt their substantial infrastructure investments. Further dampening sentiment toward the AI trade, Anthropic PBC reportedly disclosed $16.8 billion in Q3 revenue to prospective investors, with the figure suggesting that growth had moderated despite remaining strong. Memory-chip makers SK Hynix and Samsung Electronics plunged more than -11% and -9% in Seoul, respectively, while tech investor SoftBank Group slumped over -9% in Tokyo. European AI-related stocks also got hit, with Dutch semiconductor-equipment maker ASML Holding sliding over -5%. The selloff spilled over into U.S. pre-market trading, with Sandisk (SNDK) sliding over -4% and Intel (INTC) declining more than -3%.
