Technology stocks were leaning lower premarket Wednesday as the Technology Select Sector SPDR Fund (XLK) fell by 0.1% and the SPDR S&P Semiconductor ETF (XSD) was down slightly recently.

Taiwan Semiconductor Manufacturing (TSM) shares were 0.8% higher after the company reported revenue of $251.87 billion New Taiwan dollars ($7.82 billion) in September, up 39.6% from a year earlier.

Algorhythm Holdings (RIME) shares rose 19% after the company said it signed a new agreement with an unnamed India-based global consumer goods firm under which its SemiCab Holdings unit will offer shipping services through its artificial intelligence-powered software platform.

InterDigital (IDCC) shares were up 0.5% after the company said it entered into a new patent license deal with Lenovo, resolving all pending litigation between the parties.