09:15 AM EDT, 06/02/2026 (MT Newswires) -- Technology stocks were advancing premarket Tuesday, with the State Street Technology Select Sector SPDR Fund (XLK) 0.2% lower and the State Street SPDR S&P Semiconductor ETF ( XSD ) advancing by 3%.

Marvell Technology ( MRVL ) shares were up more than 16% after multiple news outlets reported that Nvidia (NVDA) chief executive officer Jensen Huang called the chipmaker the next "trillion-dollar company."

Hewlett Packard Enterprise ( HPE ) stock was up more than 27% after the company reported higher fiscal Q2 adjusted earnings and revenue, and raised its fiscal 2026 outlook.

STMicroelectronics ( STM ) shares were up more than 9% after the company said it now expects to generate data center revenue of $1 billion this year, compared with its previous guidance of "nicely above $500 million."