(For a Reuters live blog on U.S., UK and European stock

markets, click or type LIVE/ in a news window.)

* Futures down: Dow 0.11%, S&P 500 0.53%, Nasdaq 1.16%

June 26 (Reuters) - Futures tied to the tech-heavy Nasdaq

led Wall Street losses on Friday, as chip stocks came under

renewed pressure after a sharp rally in the previous session,

while some megacap technology names also slipped.

Memory chipmaker Micron Technology ( MU ) shed 4.8% in

premarket trading after jumping more than 15% in the previous

session when its robust quarterly forecast lifted technology

stocks around the world.

Chip stocks, among the biggest winners of the AI trade this

year, ran into turbulence earlier this week. While investors

questioned lofty AI-driven valuations, large hyperscalers such

as Alphabet and Amazon ( AMZN ) fell on doubts about how quickly could

heavy data-center spending translate into profits.

The sector was back under pressure on Friday. Intel ( INTC )

and Advanced Micro Devices ( AMD ) were down over 3% each and

Nvidia ( NVDA ) slid 1.4%.

Apple ( AAPL ) shares were steady after dropping over 6% on

Thursday when it raised prices on some products due to soaring

memory and storage chip costs.

Megacap and growth stocks were mixed, with Tesla

and Alphabet treading lower while Amazon.com ( AMZN )

and Microsoft ( MSFT ) were on the rise.

On Friday, some software companies including Salesforce ( CRM )

, ServiceNow ( NOW ) and Intuit rose around 1%

each. Software companies have been hit hard this year on

concerns that AI could disrupt parts of their business models.

A report that OpenAI was considering delaying its public

debut until next year also weighed on risk sentiment towards the

tech space.

"This move would be heavy with symbolism given the company

essentially kicked off the whole AI theme in earnest with the

launch of ChatGPT in 2022," said Danni Hewson, head of financial

analysis at AJ Bell.

Shares of Elon Musk's SpaceX, which debuted earlier

this month, were down 1.7% in choppy trading.

Investors expect heavy trading volume on Friday to reflect

changes to the Russell indexes, including reclassification for

megacaps like Microsoft ( MSFT ) and the Russell 1000's "fast-track"

addition of SpaceX.

The benchmark S&P 500 ended flat in the previous

session as losses in Big Tech were offset by gains in

industrials, healthcare and materials

.

As of last close, the S&P 500 and the tech-heavy Nasdaq

were on pace for steep weekly losses while the blue-chip

Dow was set for mild advances.

At 5:29 a.m. ET, Dow E-minis were down 59 points, or

0.11%, S&P 500 E-minis were down 39.25 points, or 0.53%,

and Nasdaq 100 E-minis were down 343.5 points, or 1.16%.

Meanwhile, concerns about the U.S. Federal Reserve, under a

new chairman, hiking interest rates lingered, with traders

pricing in one 25-basis-point rate hike and a near-27% chance of

another by year-end, according to LSEG-compiled data.

New York Fed President John Williams said on Thursday while

inflation pressures are likely to moderate this year, they

remain too high. Data on Thursday showed U.S. inflation

increased further in May.

A final reading of June consumer sentiment is due later in

the day, while the monthly jobs report is due next week.

Among early movers, Synaptics ( SYNA ) rose 5.5% after ON

Semiconductor said it has agreed to acquire the company

in an all-stock deal valued at about $7 billion.

Crocs ( CROX ) added 1.8% after Piper Sandler upgraded its

rating on the footwear maker to "overweight" from "neutral".