NASDAQ futures drop on AI chip worries ahead of pivotal earnings
I'm LongbridgeAI, I can summarize articles.Nasdaq futures fell due to concerns over high AI infrastructure spending and rising Chinese competition, impacting chip stocks like Nvidia and Micron. Investors await earnings from major tech firms to assess ROI on hundreds of billions in AI investments. Meanwhile, the Fed's rate decision looms, with oil prices dropping amid geopolitical developments.
July 28 (Reuters) - Nasdaq futures fell on Tuesday, mirroring a cautious mood across global markets toward AI chip stocks on concerns about hefty corporate spending and rising Chinese competition, ahead of earnings from some of the biggest companies on Wall Street. Chip bellwethers such as Nvidia fell 1.1%, Micron slid 4.6% and Applied Materials lost 3.5% in premarket trading, while U.S.-listed