Nasdaq Futures Drop 0.59% as Nvidia Lifts AI Server Prices More Than 15%
Updated
Updated · Barchart · Aug 24
Nasdaq Futures Drop 0.59% as Nvidia Lifts AI Server Prices More Than 15%
3 articles · Updated · Barchart · Aug 24
Summary
September Nasdaq 100 futures fell 0.59% and S&P 500 futures lost 0.19%, signaling a weaker Wall Street open as chip and AI infrastructure stocks came under fresh pressure.
Bloomberg reported Nvidia told major customers AI server prices would rise more than 15% because of surging memory costs, reviving doubts about whether AI spending can keep delivering acceptable returns.
Asian tech weakness amplified the move: Samsung slid more than 8% in Seoul, Alibaba dropped over 8% in Hong Kong after a HK$80 billion share sale, and SoftBank fell more than 5% on a planned 1 trillion yen bond deal.
WTI crude fell more than 2%, ending a six-day rally and helping push the 10-year Treasury yield down 2 basis points to 4.71%, offering some support to bonds even as equities softened.
The selloff opens a pivotal week centered on Nvidia results Wednesday, Kevin Warsh's Jackson Hole speech Friday, and U.S. core PCE data expected to hold annual inflation at 3.3%.