US stock futures rose Thursday morning as the artificial intelligence trade continued to drive gains across technology shares, powered by upbeat earnings from Cisco Systems Inc. and an AI IPO.

Contracts on the S&P 500 Index rose 0.3%, those on the Nasdaq 100 Index rose 0.2% as of 7:59 a.m. in New York. Shares of Cisco rallied double digits after the company delivered a better-than-anticipated sales forecast and announced plans to cut thousands of jobs to focus on the fast-growing AI market.