Big Tech Stocks Drop Premarket; Nasdaq Futures down 0.9%; Oracle down 3%; Tesla, Nvidia, Micron, AMD, ASML down 2%

US stock futures dropped. Nasdaq futures down 0.9%; S&P 500 futures down 0.6%; Dow futures down 0.3%.

Big tech stocks fell in premarket trading on Monday. Oracle fell 3%; Tesla, Nvidia, Micron, AMD, ASML down 2%; Meta, Alphabet, Amazon, Microsoft down 1%.

Oracle Corp. plans to raise $45 billion to $50 billion this year through a combination of debt and equity sales to build additional cloud infrastructure capacity, reflecting the scale of financing needed to feed AI’s growth.

Oracle is raising money to build additional capacity to meet the contracted demand from the company’s largest cloud customers, including Advanced Micro Devices Inc., Meta Platforms Inc., Nvidia Corp., OpenAI, TikTok Inc. and xAI Corp., the company said in a statement Sunday.