Nvidia, AMD, and Micron fall as investors question AI spending

Shares of Nvidia, AMD, and Micron fell sharply in US premarket trading Thursday as investors questioned whether the AI boom can satisfy Wall Street amid conflicting spending signals from major customers. Nvidia dropped 2.4%, while AMD and Micron fell between 2.9% and 5.3%. Tesla cut its 2026 capital expenditure forecast to about $20 billion from over $25 billion, raising doubts about AI-driven growth, while Meta raised its minimum spending commitment to $135 billion. Lam Research beat earnings estimates but shares slid 8.5% on a flat outlook. The selloff reflects investor demand for short-term visibility over AI growth promises, with memory market conditions potentially lasting two to three years. Brent crude above $112 added inflationary pressure.