AI-Linked Perpetual Futures Slide as Much as 9% Intraday, Shaking Semiconductor and Data Center Names
Summary
- Prices of perpetual futures tied to shares of AI-related companies tumbled in tandem on Oct. 18.
- On Binance, a perpetual futures contract linked to Western Digital (WDC) fell as much as 9.06% intraday before recovering part of the loss, but it remained weak.
- Major AI infrastructure and memory-related products — including contracts tied to IREN, Micron, SanDisk, SK Hynix ADRs, CoreWeave, Applied Optoelectronics and a SpaceX-linked product — all posted steep declines.
Forecast Trend Report by Period
Perpetual futures tied to shares of artificial intelligence-related companies fell sharply across the board on Oct. 18. Products linked to Western Digital and IREN recorded the biggest intraday declines, dropping more than 9% and 8%, respectively. Prices later rebounded from their lows, but major contracts remained under pressure.
On Binance, a perpetual futures contract linked to Western Digital Corp. fell as much as 9.06% intraday to 298.70 USDT. It later recovered to 318.30 USDT, though it was still about 3.1% below the previous day.
Memory and storage-related products also weakened broadly. A Micron-linked contract fell about 7% to 818.57 USDT before rebounding to 862.26 USDT. A SanDisk-linked product dropped as much as 6.5% intraday to 1,215.35 USDT. SKHYUSDT, a product tied to SK Hynix American depositary receipts, fell 7%. Its session low was 1
Among AI infrastructure-linked products, IREN posted a particularly steep decline. It plunged as much as 8.80% to 24.88 USDT before recovering to 26.58 USDT. CoreWeave also rebounded to 60.30 USDT after falling as much as 6.3% to 57.55 USDT.
Applied Optoelectronics fell as much as 7.87% to 70.04 USDT before trading at 74.14 USDT. A SpaceX-linked product, SPCXUSDT, dropped as much as 3.70% to 140.46 USDT and later rebounded to 145.29 USDT.
