US stock futures moved modestly higher on Friday as investors assessed the fallout from a technology sector sell-off triggered by fresh concerns over OpenAI's revenue performance and the sustainability of the artificial intelligence boom.

Futures linked to the S&P 500 gained 0.3%, while Nasdaq 100 futures climbed 0.49%. Dow Jones Industrial Average futures also advanced, rising 105 points, or approximately 0.2%, as markets attempted to recover from Thursday's losses.

The cautious rebound followed a difficult session for technology stocks after OpenAI's latest revenue figures raised questions about the pace of growth across the AI industry. The company reportedly informed investors that its annualised revenue had reached $50 billion by the end of September, below the $68 billion figure circulated in previous reports.

However, the difference appears to reflect variations in how revenue was calculated, with the higher estimate reportedly including gross revenue generated through business partners. Despite this distinction, the announcement unsettled investors who have increasingly priced aggressive growth expectations into AI-related companies.

The market reaction was particularly pronounced among businesses closely connected to AI infrastructure and computing demand. CoreWeave shares plunged more than 7%, while Oracle, Intel and Super Micro Computer each declined by approximately 5%. Advanced Micro Devices fell nearly 4%, and Nvidia, one of the biggest beneficiaries of the AI investment boom, dropped almost 3%.

The widespread selling highlighted growing sensitivity to developments that could challenge expectations for AI-related spending. Following months of strong gains, investors are becoming more selective about valuations, revenue growth and the ability of technology companies to turn substantial infrastructure investments into sustainable profits.

Thursday's weakness pushed the Nasdaq Composite down more than 1%, its largest single-session decline since mid-August. The technology-heavy index has now recorded two consecutive sessions of losses after reaching fresh record highs earlier in the week.

The S&P 500 also came under pressure, retreating 0.5% for its second consecutive decline. The Dow Jones Industrial Average, however, managed to finish marginally higher, demonstrating relative resilience outside the technology sector.

Despite the recent volatility, broader US equities have remained relatively stable on a weekly basis. Both the Dow and Nasdaq Composite were trading close to unchanged for the week, while the S&P 500 was positioned for a weekly gain of approximately 0.6%.

Meanwhile, Asian markets delivered mixed performances on Friday as investors reacted to the weakness in US technology shares. Japan's Nikkei 225 declined more than 1%, while the broader Topix index slipped 0.2%. Mainland China's CSI 300 fell 0.48%, contrasting with a 0.7% advance in Hong Kong's Hang Seng Index. Australia's S&P/ASX 200 gained 0.37%.

Outside the AI sector, developments in the telecommunications industry also attracted attention. SpaceX shares advanced 2% in extended trading following the announcement of an agreement to acquire a nationwide portfolio of wireless spectrum licences. The deal raised concerns about intensifying competition in the US telecommunications market, weighing on shares of AT&T, Verizon and T-Mobile.

Looking ahead, investors will turn their attention to upcoming corporate earnings and economic indicators for further direction. Delta Air Lines is scheduled to release its quarterly results before Friday's opening bell, offering insight into consumer travel demand and business conditions.

The preliminary October consumer sentiment report is also expected to provide an updated assessment of household confidence, spending expectations and inflation concerns.

With technology valuations remaining elevated and investor expectations surrounding artificial intelligence increasingly demanding, market participants are likely to scrutinise upcoming earnings announcements and corporate guidance more closely.

Although Friday's modest gains in stock futures suggest some stabilisation following the recent sell-off, uncertainty surrounding AI growth expectations could continue to drive volatility across US equities in the near term.

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