Technology stocks were falling premarket Monday, with The Technology Select Sector SPDR Fund (XLK) down 1.8% and the SPDR S&P Semiconductor ETF (XSD) 1% lower.
Huawei plans to begin large-scale shipments of its new 910C artificial intelligence chip to Chinese customers as early as next month, Reuters reported, citing two people familiar with the matter. The move comes as Chinese tech firms look for domestic alternatives to Nvidia's (NVDA) H20 chip, which is restricted by recent US export controls. Nvidia shares were more than 3% lower pre-bell.
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