AI-Linked Perpetual Futures Drop as Much as 9% Intraday, Shaking Semiconductor and Data Center Names

Prices of perpetual futures tied to shares of artificial intelligence-related companies fell sharply in tandem on October 18. Products linked to Western Digital and IREN posted the steepest intraday declines, dropping more than 9% and 8%, respectively. They later rebounded from their lows, but major contracts remained weak.

On Binance, a perpetual futures contract linked to Western Digital (WDC) fell as much as 9.06% intraday to 298.70 USDT. It later recovered to 318.30 USDT, but was still about 3.1% below the previous day's level.

Products tied to memory and storage companies also came under pressure across the board. Micron fell about 7% to 818.57 USDT before rebounding to 862.26 USDT. SanDisk dropped as much as 6.5% intraday to 1,215.35 USDT. SKHYUSDT, a product linked to SK Hynix American depositary receipts, fell 7%. The intraday low was 1

Among products tied to AI infrastructure companies, IREN posted one of the biggest declines. 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 at one point to 57.55 USDT, down 6.3%.

Applied Optoelectronics fell as much as 7.87% to 70.04 USDT before trading at 74.14 USDT. A product linked to SpaceX, SPCXUSDT, dropped as much as 3.70% to 140.46 USDT before rebounding to 145.29 USDT.