09:11 AM EDT, 05/29/2025 (MT Newswires) -- Technology stocks were advancing premarket Thursday, with The Technology Select Sector SPDR Fund (XLK) up 1.5% and the SPDR S&P Semiconductor ETF ( XSD ) 2.9% higher.

Nvidia ( NVDA ) shares were up more than 5% after the company overnight reported higher fiscal Q1 non-GAAP earnings and revenue.

Sony ( SONY ) Chief Executive Hiroki Totoki said the spin-off of the group's financial services arm will have its own fundraising capabilities, Reuters reported, citing comments at the company's investor day meeting. Sony ( SONY ) stock was over 2% higher premarket.

Cadence Design Systems ( CDNS ) , Synopsys ( SNPS ) and other electronic design automation software makers received letters from the US Department of Commerce, ordering them to halt shipments to Chinese customers, multiple media outlets reported, citing people familiar with the matter. Cadence Design Systems ( CDNS ) shares were up more than 2%, while Synopsys ( SNPS ) stock was over 1% higher pre-bell.