Chipmaker Surge: AI Demand Drives Nasdaq Futures Skyward

Nasdaq futures surged by 2% following optimistic projections from Micron and Qualcomm showcasing strong AI infrastructure demands. With $22 billion secured for Micron's chips and $15 billion forecasted for Qualcomm's data-center revenue, positive sentiments spread across global tech stocks, despite earlier investor concerns regarding rising costs.

Nasdaq futures surged by 2% on Thursday after positive forecasts from chipmakers Micron and Qualcomm. The promising outlook highlighted strong demand for artificial intelligence infrastructure, boosting investor sentiment towards technology stocks.

Micron secured $22 billion in commitments for its memory chips, while Qualcomm forecasted $15 billion in data-center revenue by 2029. This optimism sent global tech shares climbing sharply, with European-listed Micron shares increasing by 18.7%.

Despite concerns about rising debt-funded spending and borrowing costs, Micron's forecasts eased investor worries. As economic focus shifts to the Fed's inflation gauge, traders foresee a potential interest rate hike by September.