U.S. stocks were gearing up for a packed Monday premarket session on Aug. 10, with headlines spanning AI infrastructure financing, ratings changes, crypto treasury moves and corporate buybacks.
Semiconductors and AI spending
Intel dropped more than 5% in premarket trading. The company plans to raise $15 billion to expand its AI investment, joining the latest wave of AI infrastructure funding. Nvidia plans to invest up to $3 billion in Lancium, a company focused on power infrastructure for AI data centers.
TSMC reported July revenue of NT$467.58 billion, up 44.7% from a year earlier. The chipmaker also plans to invest around 1 trillion yen together with Sony to develop and produce next-generation image sensor chips.
Jefferies cuts Apple
Jefferies downgraded Apple to Underperform from Hold and lowered its price target to $263.66 from $285.56.
Crypto treasury moves
BitMine added 7,391 ETH last week, taking total holdings to 5,805,238 ETH. Its staked Ethereum rose to 5,067,309 ETH, roughly 87% of the portfolio. Current annualized staking revenue is around $257 million.
Strategy sold 1,690 BTC last week, lifting its dollar reserves to $4.65 billion.
Other premarket headlines
Meta released Muse Glimmer, a lightweight AI model that is open source, free to download and capable of running locally on a single GPU card.
Berkshire Hathaway bought back more than $3.3 billion of its shares from July 1 through July 29, the first part of the third quarter.
Archer Aviation was up more than 18% in premarket trading. Boeing plans to invest in the company and work with it.