US tech stocks split as Big Tech rebounds, chips under pressure

QUALCOMM Incorporated

Today 13:02

** US AI and tech stocks uneven in premarket trading after last week's rout
** The tech-heavy Nasdaq 100 Index .NDX had logged a fourth consecutive weekly drop on Friday as investors sifted for clues on what comes next in the AI trade
     
BIG TECH
** Microsoft MSFT.O up 2%, while Meta META.O and Alphabet GOOGL.O add 3% and 2%, respectively
     
CHIPS MIXED
** Shares of chipmakers mixed, with Nvidia NVDA.O shedding 5% as investors assessed the fallout from an internal investigation into whether CEO Jensen Huang had been targeted by a foreign intelligence effort
** Intel INTC.O muted, Marvell Technology MRVL.O inches 0.3% higher, Qualcomm QCOM.O sheds 0.5%
** Advanced Micro Devices AMD.O up 4.4%, Broadcom AVGO.O gains 3.3%
     
NEOCLOUDS
** CoreWeave CRWV.O down 3.6%; at least two brokerages cut PT on the stock
** Peer Nebius NBIS.O down 2.7%
     
DATA CENTER OPERATORS
** Core Scientific CORZ.O, Hut 8 Corp HUT.O and Cipher Digital CIFR.O down between 2% and 3.7%
     
CYBERSECURITY
** CrowdStrike CRWD.O and Palo Alto PANW.O up over 1.2% each 
** Fortinet FTNT.O and Zscaler ZS.O up less than 1%

(Reporting by Sudeshna Ghoshal in Bengaluru)
((Sudeshna.Ghoshal@thomsonreuters.com;))