A.M. Update

S&P futures are down -0.6% and Nasdaq-100 futures are down -1.45% after chip stocks sold off overnight on the KOPSI (-5.8%). Micron is down -7% in pre-market. Also knocking sentiment in AI are reports that OpenAI may delay its IPO to 2027 due to recent volatility across SpaceX (SPCX -2%) and other AI-related names.  Additionally, Axios reports that the…