Premonition of Collapse: Nasdaq Futures Plunge Over Fears of Unprofitable AI Chips

Nervousness on Wall Street has peaked ahead of Big Tech quarterly reports. On July 28, 2026, Nasdaq futures showed a notable decline, reflecting total investor uncertainty regarding the sustainability of capital expenditures on artificial intelligence.

Market sentiment has shifted drastically. While in 2024-2025 purchasing Blackwell-based servers was perceived as a guarantee of absolute dominance, today, the astronomical CAPEX frightens shareholders. Analysts are noting weakness in the AI component manufacturing segment: clients are beginning to optimize budgets. Investors fear that the financial reports of Microsoft, Alphabet, and Amazon will reveal an unpleasant truth—the massive spending on compute infrastructure is not yet generating sufficient pure cash flow, turning into a "black hole" for the balance sheets of tech giants.

Source: Reuters / Investing.com