Nasdaq futures rose up to 1.5 percent on Friday evening, indicating a firm opening, as chip stocks recovered after a technology-led selloff wiped out nearly USD 3 trillion from the market value of S&P 500 companies amid concerns over tighter AI regulations.
At around 5.15 pm IST, Nasdaq futures were trading 1.46 percent higher at 27,139, while S&P 500 futures gained 0.35 percent. Dow Jones futures, however, remained in the red, declining 0.9 percent.
The recovery came after the Nasdaq Composite recorded its steepest single-day fall in 19 months in the previous session, entering correction territory and heading for its fourth consecutive weekly decline.
Among stocks, Nvidia gained 3.6 percent in premarket trading. Shares of AMD, Intel, Broadcom and Micron Technology rose between 5 percent and 8.3 percent after suffering steep losses in the previous session.
The technology-led selloff was seen amid concerns that Democratic control of the US Congress could result in tighter regulations for artificial intelligence.