Sector Update: Tech Stocks Rise Premarket Thursday
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Technology stocks are experiencing a rise in premarket trading, with the State Street Technology Select Sector SPDR Fund (XLK) up 1.3% and the State Street SPDR S&P Semiconductor ETF (XSD) up 1.4%. Microsoft-backed OpenAI is seeking investments from Middle Eastern sovereign wealth funds for a new funding round. Microsoft shares rose over 1%. Applied Digital's stock increased by over 2% after announcing the start of an AI data center in the US. ACM Research shares also rose over 2% as it revised its 2025 revenue expectations to between $885 million and $900 million.
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