09:12 AM EDT, 10/01/2025 (MT Newswires) -- Technology stocks were declining premarket Wednesday, with the Technology Select Sector SPDR Fund (XLK) 0.4% lower and the SPDR S&P Semiconductor ETF ( XSD ) down 0.9%.

Rezolve AI ( RZLV ) stock was up more than 21% after the company raised its 2025 annual recurring revenue exit rate guidance to a minimum of $150 million from $100 million previously.

Axcelis Technologies ( ACLS ) and Veeco Instruments ( VECO ) said they have agreed to an all-stock merger, creating a combined semiconductor equipment company with an expected enterprise value of around $4.4 billion. Axcelis Technologies ( ACLS ) shares were 4% lower and Veeco Instruments ( VECO ) shares were up nearly 7% pre-bell.

Qualcomm ( QCOM ) said a US district court judge dismissed the lone remaining claim in a lawsuit brought by Arm (ARM) over a license deal with Nuvia, upholding prior jury verdicts. Shares of Arm Holdings ( ARM ) were up more than 2% premarket.