Technology stocks were edging higher premarket Monday, with the State Street Technology Select Sector SPDR Fund (XLK) slightly advancing and the State Street SPDR S&P Semiconductor ETF (XSD) up 1.9%.
Taiwan Semiconductor Manufacturing (TSM) is accelerating the expansion of its Arizona chip manufacturing operations to capitalize on a multi-year artificial intelligence demand trend, Chief Financial Officer Wendell Huang said in an interview with CNBC. Shares of Taiwan Semiconductor Manufacturing were up more than 2% pre-bell.
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