US stock futures showed little reaction Thursday as Nvidia's blockbuster quarterly results failed to excite investors. The chipmaker's stock rose just 0.6% in premarket trading despite beating expectations for January quarter revenue and forecasting current-quarter sales above estimates. Microsoft and Apple shares also traded flat, reflecting broader market uncertainty about AI infrastructure investments.

Market analysts suggest investors are demanding more concrete evidence of AI monetization before pushing technology stocks higher. Salesforce shares dropped 3.1% after forecasting fiscal 2027 revenue below expectations, highlighting concerns about sluggish enterprise software spending. The S&P 500 software and services index has fallen nearly 21% this year amid AI disruption fears.

The muted response to Nvidia's strong results signals a potential shift in market sentiment. While AI stocks have driven much of the market's recent gains, investors now appear skeptical about whether massive AI infrastructure spending will translate into sustainable profits. This skepticism extends beyond software to sectors including financial brokerage, data analytics, and legal services that have faced heavy losses amid AI disruption concerns.