Stocks making the biggest moves premarket: Google, HashiCorp, Nvidia and more

Alphabet’s Class A shares, which belong to Google’s parent company, saw an upturn of 5.6% due to talk of a partnership with Apple. A Bloomberg report suggests Apple may incorporate Google’s Gemini AI engine into their future iPhone systems.

Super Micro Computer’s shares climbed by 2.5%. This technology company, specializing in artificial intelligence servers, is set to join the S&P 500 as of Monday. The value of the company’s stock has multiplied by more than twentyfold in the last two years and experienced a 276% increase year to date.

Stock in Nvidia underwent a 2.7% spike in anticipation of the forthcoming GTC Conference. The chipmaker is predicted to reveal several AI advancements during the event. Investment bank HSBC raised its price target for Nvidia to $1,050 per share from $880, pointing to the company’s promising AI product roadmap.

Shares in software company HashiCorp soared by 9.8% following rumors that the San Francisco-based firm might be up for sale. These speculations are reportedly based on information from insiders known to Bloomberg.

Taiwan Semiconductor Manufacturing’s U.S.-listed stocks increased 1.5% on the back of a Reuters story. The article cited anonymous sources claiming that the company is considering expanding high-tech packaging capacity in Japan.

Despite a $30 price target reduction from Goldman Sachs, Tesla’s shares climbed 3.2%. Although the electric vehicle company is navigating the challenges of rising competition and decreased demand, Goldman Sachs maintains that Tesla’s standing in the EV and clean energy sectors places it well for future growth.

PepsiCo has seen a 1.2% uptick in their shares following an upgrade to overweight from equal-weight by Morgan Stanley. The bank’s analysts predict a recovery in PepsiCo’s fundamentals in the latter half of the year.