Pre-Market | US Government Adopts AI for Public Sector Efficiency, Stocks Surge on Tech Investments

26 Sep., The U.S. federal government has expanded its adoption of AI technology by partnering with a private firm to deploy an advanced model, Grok, across agencies at minimal costs and extended terms, supporting innovation and efficiency in public-sector operations. Meanwhile, DOW FUTURES are up 0.21% in pre-market, NASDAQ FUTURES are up 0.08% in pre-market, and S&P FUTURES are up 0.13% in pre-market.

Intel shares rose 3.85% in pre-market trading, driven by news of Nvidia's $5 billion investment in the company. Texas Instruments also saw a 3.30% increase, attributed to heightened demand for industrial and automotive semiconductors, along with a focus on high-margin products. ConocoPhillips, however, experienced a 2.88% drop, following an announcement of planned workforce reductions. Alibaba's stock fell 2.34% in pre-market trading, as U.S. Tiger Securities downgraded the company due to valuation concerns after its recent rally.

In pre-market trading, MEDIROM Healthcare surged over 200%, driven by its announcement to expand Orb device installations with World ID in 200 locations, highlighting significant growth potential. Top KingWin also saw a substantial rise, up nearly 77%, following the signing of a sales contract with Walker Times. Meanwhile, Kuke Music faced financial challenges, dropping over 35% due to negative profitability and high debt levels. Wellgistics also declined, down over 30%, after announcing a public stock offering below its recent closing price.

Intel is developing an additional data center GPU aimed at lower power consumption for servers, potentially launching next year. Apple requested the EU repeal the Digital Markets Act, facing prior fines and ongoing investigations amid refused negotiations. CoreWeave expanded its agreement with OpenAI, adding $6.5 billion to their partnership for AI compute resources, bringing the total value to $22.4 billion.