U.S. equity futures inched higher early Friday following an OpenAI revenue briefing that tempered enthusiasm for artificial‑intelligence‑driven trades. The S&P 500 futures rose 0.3%, Nasdaq 100 futures added 0.49%, and Dow Jones Industrial Average futures climbed about 105 points, or 0.2%.
Global market snapshot
Asian markets showed mixed performance. Japan’s Nikkei 225 was essentially flat, while mainland China’s CSI 300 gained 0.16%. Australia’s S&P/ASX 200 advanced 0.64%, and Hong Kong’s Hang Seng index posted a 1.4% rise in its final hour of trading.
AI sector pullback after OpenAI numbers
AI‑focused equities slipped on Thursday after CNBC confirmed that OpenAI told investors its annualized revenue would reach $50 billion by the end of September. The figure contrasts with a $68 billion estimate reported the previous month, a number that a source said also incorporated gross revenue from partners.
The revenue clarification sparked a sell‑off across several AI‑related stocks. CoreWeave dropped more than 7%, while Oracle, Intel and Super Micro Computer each fell roughly 5%. Advanced Micro Devices slid close to 4% and Nvidia shed almost 3%.
“If we have a number of days like this … we could see a real rout in AI‑related names,” said Kristina Hooper, chief market strategist at Man Group, on CNBC’s “Closing Bell: Overtime.” She warned that continued disappointment could sour investor sentiment toward the sector.
Broader market impact
The Nasdaq Composite posted a decline of over 1%, marking its largest single‑day loss since mid‑August and representing a second consecutive down day after a stretch of all‑time highs earlier in the week. The S&P 500 recorded a 0.5% loss for the day, also its second straight decline.
In contrast, the Dow Jones Industrial Average managed to stay near flat, ending the session marginally above breakeven. Over the week to date, both the Dow and the Nasdaq Composite are roughly unchanged, while the broader S&P 500 is on track for a modest 0.6% weekly gain.
Company‑specific moves and upcoming data
SpaceX shares rose 2% in after‑hours trading after the rocket company announced a deal to acquire a nationwide spectrum portfolio. Conversely, telecom giants AT&T, Verizon and T‑Mobile saw their shares slide as investors speculated the new spectrum acquisition could intensify competition.
Investors are now turning attention to upcoming corporate earnings and economic data. Delta Air Lines is slated to release earnings before the bell on Friday, and October consumer‑sentiment figures are expected later that morning.
Overall, the market’s modest bounce in futures reflects a cautious optimism that may be tested by further AI‑sector developments and the next wave of earnings reports.
Helene Elliott is the Lead Science & Space Reporter at News Raise. She reports on aerospace missions, astrophysics discoveries, quantum research, and environmental technology.
