US stock futures edged lower as the AI trade continued to take center stage on Wall Street.

Futures attached to the Dow Jones Industrial Average (YM=F) slipped 0.1%. Futures attached to the benchmark S&P 500 (ES=F) fell 0.2%. Futures attached to the tech-heavy Nasdaq 100 (NQ=F) tumbled 0.3%.

After the bell, OpenAI announced that it confidentially filed paperwork for an initial public offering, a week after rival Anthropic took the same step. Both AI labs are now positioned to trade on Wall Street as soon as this fall.

In day trading, tech stocks lifted markets to a modest rebound following a bruising session on Friday. The action highlighted the strength of AI optimism despite growing concerns that persistent inflation could prompt the Federal Reserve to consider a rate hike this year.

Meanwhile, one of the primary drivers of rising prices — the war with Iran — shows no signs of ending. Attacks between Israel and Iran over the weekend further clouded prospects for US-Iran negotiations, even as the two countries said they would stop fighting for now.

Wall Street is gearing up for a major event on Friday, when SpaceX (SPCX) could make its market debut and set a record for the largest public offering in history.