09:05 AM EST, 01/27/2025 (MT Newswires) -- Technology stocks were falling premarket Monday, with The Technology Select Sector SPDR Fund (XLK) down 4.2% and the SPDR S&P Semiconductor ETF ( XSD ) 3.2% lower.

ASML Holding ( ASML ) shares were down more than 8% and Nvidia ( NVDA ) stock was more than 11% lower, joining other technology stocks that fell in premarket activity after Chinese artificial intelligence startup DeepSeek released an open-source AI model that it said can run on less advanced chips.

Aurora Mobile ( JG ) shares were up past 170% after the company said its business-oriented AI agent platform GPTBots.ai has integrated the DeepSeek R1 large language model.

Emerson (EMR) has agreed to buy all Aspen Technology ( AZPN ) shares it does not already own for $265 apiece in an all-cash deal that values the company at about $17 billion, the companies said. Aspen Technology ( AZPN ) shares were over 2% higher pre-bell.