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 more than 4% 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 8.6% and American Tower up 6.1%. SpaceX shares gained 1.5%. 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 cash outflow in mo...
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