🔴 Credo Technology Group is trading 5% down in pre-market as Alphabet’s earnings miss revives AI spending concerns

Credo Technology Group is trading 5% lower at $165.00 in pre-market as semiconductor shares weaken on renewed concerns about AI infrastructure spending after Alphabet’s earnings miss and negative free cash flow.

• No company-specific announcement was found to explain the move.
• U.S. equity futures also weakened, with CNBC reporting Nasdaq-100 futures down 1.4% early Thursday.
• The decline follows two strong sessions for the stock.