The stock $(TSLA)$ slid 1.6% in overnight trading after dipping 1.7% on Monday. The decline comes after the stock rose 6% last week to snap a record nine-week losing streak, and posted its first weekly gain since the inauguration.

Shares of Nvidia Corp. slipped 1.3% in overnight trading after slidding 1% on Monday. Monday's decline built on losses sustained last week, when Nvidia's stock came under pressure in the wake of skeptical AI commentary from Chinese executives, questions about the costly pace of AI data-center buildouts in the U.S. and concerns over tightening export controls that could affect sales of Nvidia's graphics processing units to China.

Taiwan's major chipmaker United Microelectronics and U.S.-based GlobalFoundries are looking into the possibility of a merger. Shares of UMC dipped 2% in overnight trading after ending 9.16% higher on Monday.

XPeng rose 1.7% in overnight trading as the Chinese EV maker delivers 33,205 units in March, up 268% YoY. For the first quarter of 2025, XPeng delivered 94,008 Smart EVs, representing a 331% increase compared to the same period last year.