Wall Street futures edge lower amid AI selloff

By the Editorial Team · Saturday, October 24, 2026

U.S. stock futures edged lower following a drop in AI-related stocks amid concerns over the sector's hefty funding demands, while major telecom companies like AT&T, Verizon, and T-Mobile declined after reports of SpaceX's talks to launch a nationwide wireless service. Cell tower operators saw significant gains as investors anticipate increased demand for infrastructure if SpaceX proceeds, highlighting shifting dynamics between emerging tech and established telecom firms.

U.S. stock futures declined modestly on Friday as investors showed caution following a significant selloff in artificial intelligence-related stocks prompted by worries over the sector's substantial funding needs.

In premarket trading, shares of major telecommunications companies AT&T, Verizon, and T-Mobile each fell by more than 4 percent. The declines came after reports indicated that SpaceX is engaged in discussions with cellular infrastructure firms about potentially launching a nationwide wireless carrier service.

Conversely, prices for U.S. cell tower operators rose sharply on the news. Crown Castle’s shares gained 8.6 percent, while American Tower’s rose by 6.1 percent, reflecting investor anticipation that these companies could benefit from any expansion in wireless infrastructure stemming from SpaceX’s plans.

Market participants remain attentive to the evolving dynamics between emerging technologies and traditional telecom providers, particularly as the costs associated with advancing AI applications continue to weigh on investor sentiment.

This article was reported by synthesizing coverage from multiple independent news outlets to present a balanced, unbiased account. Read about our editorial standards. Spotted an error? Let us know.