Nasdaq futures drop over 1% as AI worries resurface, oil climbs

Oct 22 (Reuters) Nasdaq futures slid more than 1% on Thursday as high-growth stocks faced renewed pressure after earnings from Tesla and Meta Platforms did little to allay concerns ​over AI spending, while a rebound in oil prices ‌further dampened sentiment. The weakness follows a strong session on Wednesday when the tech-heavy Nasdaq led Wall Street higher as robust results from SpaceX and Super Micro rekindled optimism around AI-linked stocks. SpaceX dropped 2.3% and Super Micro fell 4.7% in ‌premarket ​trading on Thursday as investors shifted their ⁠focus from earnings to the ⁠mounting cost of the AI buildout. Tesla fell 5.3% after the electric-vehicle maker cut its annual capital expenditure forecast, raising questions about the pace of its AI and robotics expansion. Meta s shares slipped 1.9% ​after the social media giant introduced new non-voting shares to help fund its costly AI push, reviving investor scrutiny of the ⁠substantial capital required to stay competitive in ⁠the r