Technology stocks were advancing premarket Thursday with the Technology Select Sector SPDR Fund (XLK) up 0.9% and the SPDR S&P Semiconductor ETF (XSD) 3% higher recently.

Synaptics (SYNA) shares rose by 6% after the company said it is working with Alphabet's (GOOG, GOOGL) Google to advance artificial intelligence-powered Internet of Things technologies.

Nvidia (NVDA) invested an aggregate of $1 billion in artificial intelligence companies last year that ranged across 50 start-up funding rounds and numerous corporate agreements, the Financial Times reported, citing filings and Dealroom research. Nvidia shares were up more than 1% pre-bell.

ON Semiconductor (ON) was granted a license to Weebit Nano's resistive random access memory, or ReRAM, technology, Weebit Nano said. ON Semiconductor shares were 0.4% higher premarket.