U.S. equity futures were mixed Thursday, with technology shares gaining after Nvidia delivered record quarterly sales and a strong growth outlook that reinforced investor confidence in artificial-intelligence infrastructure spending.
Futures tied to the S&P 500 and Nasdaq 100 rose about 0.5%, while Dow futures edged lower as strength in AI-related companies contrasted with weakness across broader sectors.
Nvidia Jumps 6% After Record Quarter
Nvidia surged about 6% in premarket trading after reporting its strongest sales quarter on record and forecasting revenue growth of roughly 70% for the next fiscal year.
The outlook provided a significant test for one of the central questions surrounding the AI boom: whether the extraordinary level of capital spending on chips, data centers and computing infrastructure can continue generating sufficient demand and returns.
Nvidia’s forecast offered fresh evidence that demand for AI computing remains strong, supporting shares of other companies exposed to the infrastructure buildout.
Micron, Marvell, SanDisk, Palo Alto Networks and GE Vernova advanced between roughly 3% and 6% in premarket trading.
AI Strength Meets a More Challenging Macro Backdrop
Outside technology, sentiment remained more cautious.
Long-term bond yields continued to trade near recent highs as investors assessed widening federal deficits, heavy corporate debt issuance associated with AI infrastructure, trade tensions and the inflationary implications of elevated energy prices.
Apple, Merck and Visa each declined more than 1% in early trading.
The divergence highlights two forces currently competing for investors’ attention: rapid growth in AI infrastructure spending and a macroeconomic environment characterized by elevated borrowing costs and inflation risks.
Nvidia’s results underscored the continued expansion of AI-related computing demand, with the company’s outlook also supporting shares across the semiconductor and data-center infrastructure sectors. The report came as broader U.S. equities remained influenced by elevated long-term bond yields, energy prices and fiscal conditions.
