US equity futures edged mostly higher on Wednesday, with contracts on the S&P 500 and Nasdaq 100 up nearly 0.3%, while Dow Jones futures hovered around the flatline after a losing session the previous day. Sentiment was boosted by renewed optimism around AI. Alibaba shares jumped nearly 9% in premarket trading after the company’s CEO announced plans to raise AI spending beyond its original $50 billion-plus target. Micron Technology gained more than 1% following better-than-expected earnings and a strong outlook, while Nvidia (0.8%) and Broadcom (0.5%) also traded higher before the open. Meanwhile, investors continued to parse comments from Fed Chair Powell, who pointed to persistent risks in the labor market and inflation, while cautioning that equity valuations remain elevated.