Dow, S&P 500, Nasdaq Futures Rebound After Sharp AI Selloff Last Week: NVDA, AMD, VIR, SNDK In Focus

• On Thursday last week, markets lost about $3 trillion in total value as investors sold off AI-related names.

• Markets are now focused on Nvidia as the chipmaker’s board said it would be launching an independent investigation into CEO Jensen Huang’s alleged relationship with a suspected Chinese spy.

• U.S. President Donald Trump is scheduled to meet Qatar’s prime minister, Sheik Mohammed bin Abdulrahman, at the White House on Monday in a closed-door meeting.

U.S. stock futures traded higher overnight late Sunday after markets suffered a steep selloff last week amid concerns about a slowdown in artificial intelligence following a Democratic win in both chambers of Congress.

As of 10:11 p.m. EST, Dow futures gained 0.71%, while the S&P 500 futures were up 0.61% and Nasdaq-100 futures gained 0.62%.

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On Friday, the three U.S. benchmark indexes posted a mixed close after a massive selloff the previous day. The Dow Jones Industrial Average closed 0.46% lower. The S&P 500 and the Nasdaq Composite gained 0.31% and 1.09%, respectively.

Key US Market Drivers

Last week, markets were dominated by the outcome of the November midterm election results, with the Democrats sweeping both the Senate and the House.

After an initial climb, stock markets crashed on Nov. 5 as concerns over a pullback in AI policy and stronger regulations stoked fears about a slowdown in the AI trade.

On Thursday last week, markets lost about $3 trillion in total value as investors sold off AI-related names. All three benchmark indexes ended last week down amid the pressure on AI and tech names.

Meanwhile, markets are also focused on Nvidia Corp. (NVDA) this weekend as the chipmaker’s board said it would be launching an independent investigation into CEO Jensen Huang’s alleged relationship with a suspected Chinese spy, raising concerns about being targeted by a foreign intelligence effort.

Gary Black, managing partner at The Future Fund, said the incident could result in Huang stepping down as the chip darling’s CEO, which would exert short-term pressure on the stock as the company has “no natural successor.”

On the geopolitical front, a conclusion on the U.S.-Iran war is yet to arrive, although U.S. President Donald Trump said in an interview with CNBC over the weekend that he is “highly unlikely” to restart a full-fledged war with Iran if there is progress made in the talks on Tehran’s nuclear program and the reopening of the critical Strait of Hormuz.