01:31 PM EDT, 06/04/2026 (MT Newswires) -- (Corrects to reflect that Broadcom ( AVGO ) shares fell after the company reported fiscal Q2 results.)

Technology stocks were falling pre-bell Thursday, with the State Street Technology Select Sector SPDR Fund (XLK) down 2.2% and the State Street SPDR S&P Semiconductor ETF ( XSD ) 3.2% lower.

Broadcom ( AVGO ) stock was down more than 14% after the company reported fiscal Q2 results.

Taiwan Semiconductor Manufacturing ( TSM ) CEO C.C. Wei said AI-driven demand for advanced chips will continue to outpace the company's supply capacity for years, despite ongoing expansion efforts, multiple media outlets reported. Taiwan Semiconductor shares were down more than 1% premarket.

Palantir Technologies ( PLTR ) entered into agreements with Kirkland & Ellis, McCarthy Building and GNP Seguros for the use of its Artificial Intelligence Platform, or AIP, the company said in separate statements. Palantir Technologies ( PLTR ) stock was up more than 2% pre-bell.