Pre-Market Update: Nasdaq Futures Fall as OpenAI IPO Delay Report Rattles Tech Stocks

TLDR

• Nasdaq 100 futures dropped over 1%, S&P 500 futures fell 0.5% in pre-market trading Friday
• A New York Times report says OpenAI may delay its IPO until 2027, dragging on tech sentiment
• Apple’s MacBook and iPad price hikes flagged ongoing memory chip cost pressures
• South Korea’s KOSPI fell 5.8% overnight on sharp declines for SK Hynix and Samsung
• Bitcoin dropped 2.1% in 24 hours to $60,530 as risk appetite weakened

Tech stocks headed for another rough open on Friday, with futures pointing lower across the board after a week of heavy selling.

Nasdaq 100 futures fell around 1.1%. S&P 500 futures dropped 0.5%. Dow Jones Industrial Average futures edged down about 0.1%.

Thursday marked the fourth straight losing session for both the S&P 500 and Nasdaq.

OpenAI IPO Delay Adds to Pressure

A New York Times report said OpenAI is planning to push its highly anticipated IPO back to 2027. That news weighed on broader tech sentiment heading into Friday’s session.

Stocks like Oracle and others tied to the AI boom were pulled lower by the report.

The AI trade was already under stress. Growing bets that the Federal Reserve could raise interest rates this year have added pressure. A hot May reading of the Personal Consumption Expenditures index kept that possibility alive.

One analyst warned the dominance of big tech may be starting to erode. Richard Reyle, chief investment officer at Questar Capital Partners, said investors should not be buying Big Tech or AI stocks at current levels.

Memory Chip Costs Weigh on Device Makers

Apple raised prices on its MacBooks and iPads, pointing to rising memory and storage component costs. That move highlighted how the memory chip shortage is starting to hit device makers.

Micron’s recent earnings showed strong results but also suggested the cost squeeze is set to continue.

Memory stocks like Micron and Sandisk had helped drive the broader market higher in 2026. But investors are now questioning how long that can last.

The concern is that if a major AI hyperscaler signals it will cut back on spending, it could trigger a broader pullback across the sector.

South Korea’s KOSPI fell 5.8% overnight. SK Hynix and Samsung Electronics led the decline.

Oil prices also fell sharply. Brent crude dropped over 2% to around $73.82 a barrel. West Texas Intermediate fell to around $70.23. Tanker traffic continued in the Strait of Hormuz despite an attack on a Singapore-flagged cargo ship by Iran’s Revolutionary Guard on Thursday.

The US dollar was flat. The 10-year Treasury yield dipped one basis point to 4.38%.

Bitcoin fell 2.1% over 24 hours to $60,530, reflecting the weaker risk mood across markets.

As of Friday morning, all three major US index futures were pointing to a lower open, extending a rough week for tech and AI-linked stocks.

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