
December S&P 500 E-Mini futures (ESZ25) are down -0.22%, and December Nasdaq 100 E-Mini futures (NQZ25) are down -0.39% this morning, pointing to a lower open on Wall Street after yesterday’s rally amid renewed concerns over the valuations of some of the biggest beneficiaries of the AI boom.
Sentiment weakened as Nvidia (NVDA) fell over -1% in pre-market trading after Japan’s SoftBank Group disclosed it had sold its entire $5.83 billion stake in the chipmaker, reigniting valuation concerns. Separately, CoreWeave (CRWV), which provides rental access to powerful AI chips, slumped more than -9% in pre-market trading after cutting its full-year revenue guidance.