Wall Street futures dip after AI rout, telecoms slide

Oct 23 (Reuters) Wall Street futures ticked lower on Friday as caution prevailed after a sharp selloff in AI-linked stocks over concerns about the sector s massive funding requirements, while telecom shares slid ​on fears of increased competition from SpaceX. AT T, Verizon and T-Mobile ‌were down over 3% in premarket trading after a report said SpaceX was in talks with cellular infrastructure companies about launching a nationwide wireless carrier program. US cell tower operators, however, gained from this news, with Crown Castle up 8.5% and American Tower up ‌5.6%. SpaceX shares ​gained 2.2%. AI-related shares swung sharply this week, first ⁠coming under pressure over ⁠CoreWeave s debt burden and the cost of financing AI investment, then rallying on Wednesday after upbeat results from SpaceX and Super Micro. The gains reversed on Thursday and the tech-heavy Nasdaq fell nearly 3%. The slide ​accelerated following Meta s nearly 8% decline after the Facebook parent reported its first c