AI-led tech slide extends into third day as Oracle, Nvidia, fall in premarket trading

AI-led tech slide extends into third day as Oracle, Nvidia, fall in premarket trading


U.S. artificial intelligence names were in negative territory in premarket trading on Friday, extending losses into their third day.

Oracle was 1.3% lower in premarket trading, Nvidia and Micron fell 0.9%, and CoreWeave was down 1.4% at 4:30 a.m. ET.

The share price of cloud computing and database software maker Oracle plummeted on Thursday, ending the session around 11% lighter after revenue earnings missed analyst expectations on Wednesday.

Oracle plunges on weak revenue

It dragged other AI-related names down with it despite a record-breaking rally elsewhere on Wall Street, suggesting investors are rotating out of tech into other parts of the market.

The tech-heavy Nasdaq Composite fell 0.26% on Thursday, despite the Dow Jones Industrial Average and S&P 500 hitting fresh records at the end of the session.

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