09:11 AM EST, 12/08/2025 (MT Newswires) -- Technology stocks were advancing premarket Monday, with the Technology Select Sector SPDR Fund (XLK) up 0.6% and the SPDR S&P Semiconductor ETF (XSD) 0.1% higher.

International Business Machines ( IBM ) has signed a definitive agreement to acquire data streaming platform Confluent (CFLT) for $31 per share in cash, or an enterprise value of $11 billion, the companies said. Shares of Confluent were up more than 29% pre-bell while IBM ( IBM ) shares were slightly down.

CoreWeave ( CRWV ) stock was down more than 4% after the company said it plans a private offering of $2 billion of convertible senior notes due Dec. 1, 2031.

Baidu ( BIDU ) shares were up 3% after the company said it was considering the spin-off and separate listing of its Kunlunxin Technology semiconductor unit.