By WSJ Staff

Nvidia $(NVDA)$, Arm $(ARM)$, Oracle $(ORCL)$ and Microsoft $(MSFT)$: The stocks fell premarket, handing back some of the gains made a day earlier on news of their involvement in the AI-infrastructure partnership Stargate. Elon Musk later publicly questioned if the joint venture would ever get off the ground.

SoftBank (JP:9984, SFTBY): Shares in the Japanese technology investor, which is leading the Stargate venture alongside ChatGPT maker OpenAI, climbed another 5.1% in Tokyo, after surging nearly 11% on Wednesday.

Electronic Arts $(EA)$: The videogame company, contending with slowing demand for soccer-themed titles, cut its full-year outlook. Shares tumbled 14% premarket.

SK Hynix (KR:000660): The South Korean memory-chip maker, which supplies Nvidia, reported record quarterly and annual results, but warned its legacy chips business continues to struggle. Shares fell 2.7%.

Alcoa $(AA)$: The aluminum producer swung to a quarterly profit due to higher prices, while its chief executive warned that tariffs threatened by President Trump would hit the industry's competitiveness.

EQT (SE:EQT): The Swedish private-equity company reported an increase in investments, assets under management and exit activity during the second half of 2024. Shares rose more than 5% in Stockholm.

GE Aerospace $(GE)$, American Airlines (AA), Elevance Health (ELV) and Freeport-McMoRan $(FCX)$ are due to report earnings in the morning.

Results from Texas Instruments $(TXN)$ and CSX $(CSX)$ are due in the afternoon.

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(END) Dow Jones Newswires

January 23, 2025 04:57 ET (09:57 GMT)

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