Stock futures were tumbling on Thursday as the artificial-intelligence slump worsened, with investors worried about hotter-than-expected inflation and Anthropic's slowing revenue growth.
AI stocks were tumbling. Advanced Micro Devices, Coherent, Corning, Intel, Lumentum, Marvell, and Sandisk all dropped ahead of the opening bell as the tech selloff raged on.
CoreWeave fell 5.8% as worries about the cloud-computing company's debt mounted. Shares plummeted 15% on Wednesday as the yield on CoreWeave's 9.625% notes, due in 2032, surged.
Taiwan Semiconductor Manufacturing slipped 1.7% after the Taiwanese chip manufacturer's strong third-quarter earnings failed to lift the gloom engulfing the AI trade.
Apple climbed 0.7%. The iPhone maker's total market capitalization topped $5 trillion for the first time ever on Wednesday, with shares benefiting from Apple spending much less on AI than its peers.
Rocket Lab slumped 9% after the company delayed the launch of its Neutron reusable rocket until next year, citing an issue with the manufacturing process.