Alphabet rose 1.54% in overnight trading. The move followed Google's unveiling of its Genie 4 world model and a report that OpenAI plans to buy Google's AI chips.
South Korean chipmaker SK Hynix reported a more than seven-fold rise in quarterly operating profit to a record high on Wednesday, beating market forecasts, as continued demand for AI infrastructure drove up memory chip prices. Shares rose about 2% in overnight trading.
Robinhood dropped 7.31%. The broker missed third-quarter profit estimates as crypto trading revenue fell 55%.
Seagate Technology PLC slid 5.26%. Shares retreated despite fiscal first-quarter revenue of $4.23 billion topping $4.14 billion estimates and a second-quarter outlook of $4.8 billion plus or minus $100 million above forecasts.
NXP Semiconductors, which produces chips for automotive and industrial clients, saw its shares decline 7.4% in overnight trading after issuing a revenue projection that fell short of expectations, raising concerns that a demand rebound is losing steam.
Teradyne declined 4.88%. Q3 results beat expectations, with adjusted EPS of $2.29, but investors focused on Q4 guidance of $1.95 to $2.25 and AI test order timing.
Western Digital slipped 1.37%. The stock moved lower in sympathy with Seagate after its results.
Chip stocks fell, with Direxion Daily Semiconductors Bull 3x Shares (SOXL) falling 1.68%.
Among other individual movers, CRITICAL METALS CORPORATION (CRML) fell 4.55%.
