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Investing.com -- US stock futures fell sharply Monday, with the tech sector hit particularly hard after competition from Chinese AI startup DeepSeek.
Here are some of the biggest premarket US stock movers today:
- Nvidia (NASDAQ:NVDA) stock slumped 12% with the artificial intelligence-darling hit by concerns that a new model from Chinese start-up DeepSeek could necessitate less investment in AI infrastructure.
- Elsewhere, Broadcom (NASDAQ:AVGO) lost 12%, Advanced Micro Devices (NASDAQ:AMD) shed 4%, Microsoft (NASDAQ:MSFT) lost over 4%, and Palantir Technologies (NASDAQ:PLTR) slipped 6%.
- Tesla (NASDAQ:TSLA) stock fell 4.1% with investors looking for more details on the automaker's lower-priced model when it reports quarterly results on Wednesday as some expect the cheaper car to help the company hit its goal to increase deliveries by up to 30% this year.
- AT&T (NYSE:T) stock rose 2.5% after the telecom giant’s fourth-quarter wireless subscriber growth surpassed expectations, fueled by strong demand for its discounted premium plans combining 5G mobile with high-speed fiber data services.
- Twilio (NYSE:TWLO) stock fell 1.5% despite Goldman Sachs upgrading its stance on the cloud communications company to ‘buy’ from ‘neutral’, seeing more than 35% upside ahead.
- Take-Two Interactive Software (ETR:SOWGn) (NASDAQ:TTWO) stock fell 0.5% despite UBS upgraded the video game company to ‘buy’ from ‘neutral’, expecting the launch of ‘Grand Theft Auto VI’ to deliver upside.
- SoFi Technologies (NASDAQ:SOFI) stock fell 12% after the fintech company’s financial outlook for the first quarter and year were a bit short of forecasts, even after CEO Anthony Noto deemed 2024 the fintech’s “best year ever.”
- Starbucks (NASDAQ:SBUX) stock dropped 0.5%, with the coffee chain set to report its fourth straight quarter of comparable sales decline on Tuesday.
- Coinbase Global (NASDAQ:COIN) stock fell 3.3%, with the digital exchange weighed by a fall in the price of Bitcoin, with the most popular cryptocurrency falling below $100,000.