Business · Markets · 7 hrs ago
AI shares lose momentum as Brent oil reaches $111 a barrel
US stock futures were mixed on Tuesday as the recent recovery in AI-related shares weakened.
South Korean AI infrastructure company Elice fell nearly 30% from its initial public offering price, raising doubts about investor appetite for the sector.
Those doubts reflect wider concerns about how companies will fund the global expansion of AI, after Australian firm Firmus Grid abandoned its planned IPO earlier this month.
Rising borrowing costs for companies including CoreWeave also suggest that raising money may be getting harder.
Brent crude reached $111 a barrel, a five-month high, as investors weighed risks to shipping and energy infrastructure in the region.
The pullback in technology shares also weighed on European and Asian markets, with South Korea’s Kospi falling 3.73%.
Investors were due to hear results from General Motors before the US market opened and from United Airlines and Netflix after it closed.
Oil prices rose as Brent crude reached its highest level in five months, at about $111 a barrel.
Investors weighed the risk of further Iranian attacks in the Strait of Hormuz and reports of attacks on vessels in the Gulf.
US stock futures were mixed as momentum in the recovery of artificial intelligence-related shares weakened.
A nearly 30% fall in South Korean AI infrastructure company Elice Group’s shares raised concerns about the sustainability of AI investment.
European and Asia-Pacific markets fell, with South Korean shares leading losses in Asia.
- Who
- Investors in global markets, including those trading oil and technology shares.
- What
- Brent crude reached about $111 a barrel as AI-related shares lost momentum and stock markets showed mixed or lower performance.
- When
- Tuesday, October 20, 2026.
- Where
- Global markets, including the United States, Europe and Asia-Pacific; oil prices reflected risks around the Strait of Hormuz and the Gulf.
- Why
- Investors assessed risks of further Iranian attacks and other regional attacks, while a poor reception for Elice shares revived concerns about funding and the sustainability of AI investment.
This story does not have two clearly opposing sides.
Australian company Firmus Grid Ltd. abandoned its planned IPO, raising concerns about financing global AI expansion.
US shares rose as AI stocks recovered, according to the Asharq Al-Awsat headline.
Elice Group shares fell nearly 30% from their initial public offering price, adding to concerns about AI investment.
Brent crude reached $111.04 a barrel, its highest level in five months.
- Brent crude
- $111.04 a barrel
- Brent’s recent peak
- Highest level in five months
- Elice Group shares
- Fell nearly 30% from their initial public offering price
- South Korea’s Kospi
- Fell 3.73% to 5,552.74
- US futures
- Dow Jones +0.36%; S&P 500 +0.11%; Nasdaq -0.12%
4 sources
Global stocks fall as AI spending concerns resurface, oil prices surge
Futuros de NY operam mistos com perda de fôlego das ações de IA; Brent atinge US$ 111
«ستاندرد آند بورز» و«ناسداك» يرتفعان مع تعافي أسهم الذكاء الاصطناعي