U.S. stock futures diverged early Thursday as Micron Technology (NASDAQ: MU) delivered a blockbuster fiscal fourth quarter, reigniting enthusiasm across AI and semiconductor markets.

Nasdaq futures climbed 0.6% as of 4:00 a.m. ET, while S&P 500 futures held flat and Dow and Russell 2000 futures each slipped 0.4%.

Micron reported record fiscal Q4 results and issued robust fiscal 2027 guidance, adding that memory supply constraint conditions will remain tight through 2028 due to surging AI demand.

On Stocktwits, retail sentiment toward the SPDR S&P 500 ETF (SPY) remained “extremely bullish,” while the Invesco QQQ Trust (QQQ) held a “bullish” reading heading into the fourth quarter.

A Stocktwits poll drawing more than 19,000 responses found that 40% of respondents planned to buy more in Q4, while another 35% planned to stay the course.

The remainder said they were taking profits or rotating toward safer assets, reflecting a degree of caution even as headline indexes closed the third quarter in positive territory.

The 10-year Treasury yield has climbed to around 5.3%, its highest level in more than two decades, with Minneapolis Fed President Neel Kashkari flagging a higher neutral rate and sticky long-term yields.

Softer August inflation data has shifted market bets for the next Fed rate hike to December, though investors are also eyeing the September ISM Manufacturing PMI report and Friday’s jobs numbers.

President Donald Trump unveiled plans on Wednesday for South Korea to invest approximately $200 billion in U.S. projects, including eight nuclear plants, adding another dimension to the macro backdrop.

Oracle (NYSE: ORCL) shares rose over 2% in early premarket following reports that China’s Tencent leased 100,000 chips from Oracle’s Southeast Asia data centers to boost its AI infrastructure.

Alphabet (NASDAQ: GOOGL) shares also gained over 2% after CEO Sundar Pichai previewed the new “Gemini 4 Argon” AI model, designed for advanced internal software, cyber, and quantum workflows.

Constellation Energy (NASDAQ: CEG) shares rose over 3% after announcing a 20-year power purchase agreement with Amazon (NASDAQ: AMZN) to supply 190 megawatts of nuclear capacity from Calvert Cliffs for AI data center needs.

Synopsys (NASDAQ: SNPS) shares climbed over 2% after the company projected nearly 15% compound annual growth through fiscal 2030, fueled by custom silicon demand and its AI chip-design collaboration with OpenAI.

Nike (NYSE: NKE) shares faced mild premarket pressure ahead of its Q1 fiscal earnings report due after the market close, with the stock down roughly 80% from its November 2021 peak.

Rocket Lab (NASDAQ: RKLB) shares surged over 3% in early premarket trade after securing a 20-launch commercial deal with Synspective for its Electron launch vehicle, described as its largest commercial contract to date.

AST SpaceMobile (NASDAQ: ASTS) shares gained 2% in premarket trading as three BlueBird satellites moved toward Cape Canaveral to support the company’s direct-to-device satellite network expansion.

Paramount Skydance (NASDAQ: PSKY) and Warner Bros. Discovery (NASDAQ: WBD) are in focus after pricing a $45 billion debt package and obtaining court approval to finalize their combined merger, expected to close on October 6, 2026.

Eli Lilly (NYSE: LLY) remains in the spotlight after Phase 3 ACHIEVE-4 trial data showed its oral GLP-1 candidate, Foundayo (orforglipron), demonstrated non-inferior cardiovascular safety alongside significant A1C and weight reduction versus insulin glargine.

Intellia Therapeutics (NASDAQ: NTLA) is drawing investor attention following institutional disclosures showing Cathie Wood’s ARK Investment purchased 467,000 shares on Wednesday.

Beyond Nike, investors will also watch earnings from Accenture (NYSE: ACN) and McCormick (NYSE: MKC) later Thursday.