09:06 AM EST, 01/02/2025 (MT Newswires) -- Technology stocks were advancing premarket Thursday with the Technology Select Sector SPDR Fund (XLK) up 0.9% and the SPDR S&P Semiconductor ETF ( XSD ) 3% higher recently.

Synaptics ( SYNA ) shares rose by 6% after the company said it is working with Alphabet's (GOOG, GOOGL) Google ( GOOG ) to advance artificial intelligence-powered Internet of Things technologies.

Nvidia ( NVDA ) invested an aggregate of $1 billion in artificial intelligence companies last year that ranged across 50 start-up funding rounds and numerous corporate agreements, the Financial Times reported, citing filings and Dealroom research. Nvidia ( NVDA ) shares were up more than 1% pre-bell.

ON Semiconductor (ON) was granted a license to Weebit Nano's resistive random access memory, or ReRAM, technology, Weebit Nano said. ON Semiconductor shares were 0.4% higher premarket.