* Futures: Dow down 0.4%, S&P down 0.14%, Nasdaq flat

* Alphabet dips on plans to raise $80 billion for AI

buildout

* Marvell ( MRVL ) jumps on Nvidia's ( NVDA ) CEO calling it next trillion

dollar co

* U.S. job openings data due at 10 a.m. ET

(Updates with analyst comment, prices)

By Medha Singh and Twesha Dikshit

June 2 (Reuters) - S&P 500 and Dow futures edged lower

on Tuesday after hitting a series of record highs, while blowout

results from Hewlett Packard Enterprise ( HPE ) and a funding commitment

from Alphabet underscored investor confidence in the AI

buildout.

HPE surged about 25% in premarket trading after the

AI server maker pulled forward its long-term financial targets

by two years. Rivals Dell and Super Micro Computer ( SMCI )

climbed 1% and 5.8%, respectively.

Alphabet said it was looking to raise $80 billion

in equity offerings, including an investment from Berkshire

Hathaway, to fund a costly expansion of its AI infrastructure.

Its shares slipped nearly 2.3%.

Both the S&P 500 and the Nasdaq logged their eighth straight

session of gains on Monday and closed at record levels, with

Nvidia ( NVDA ) rising more than 6% after it unveiled a new processor to

bring AI to personal computers.

Stronger-than-expected first-quarter results and enthusiasm

around AI have powered the U.S. stock rally.

Hopes for an end to the U.S.-Iran conflict and for the

reopening of the Strait of Hormuz have also supported sentiment,

though recent flare-ups have raised concerns. Lebanon announced

a partial ceasefire between Hezbollah and Israel on Monday.

"Markets have already priced a meaningful degree of optimism

regarding a potential agreement and the associated normalization

of energy flows," said Tom Nelson, head of market strategy at

Franklin Templeton Investment Solutions.

"Should those expectations prove premature, some of the

recent enthusiasm could fade quickly."

A prolonged conflict could stoke inflation, push the Federal

Reserve toward tighter monetary policy and threaten Wall

Street's record run.

At 06:18 a.m. ET, Dow E-minis were down 203 points,

or 0.4%, S&P 500 E-minis were down 10.5 points, or

0.14%, and Nasdaq 100 E-minis were down 2 points, or

0.01%.

Marvell Technology's ( MRVL ) shares surged more than 27%

after Nvidia ( NVDA ) Chief Executive Officer Jensen Huang

called the chipmaker the next "trillion dollar company" at the

Computex conference in Taipei. Nvidia ( NVDA ) invested $2 billion in

Marvell ( MRVL ) in March.

U.S. job openings data is due at 10:00 a.m. ET, ahead of

Friday's pivotal employment report.

Investors will also watch out for comments from Cleveland

Fed President Beth Hammack, a voting member of the Fed's

rate-setting committee, later in the day for cues on the rate

outlook.

Money market pricing shows traders have all but priced out

rate cuts for 2026 and see growing odds of an eventual hike in

the face of mounting inflationary pressures.

Among other movers, Microchip Technology ( MCHP ) added 5.4%

after an upbeat data center revenue forecast.

Philip Morris ( PM ) slipped 0.7% after the cigarette maker

lowered its annual profit forecast.

(Reporting by Medha Singh and Twesha Dikshit in Bengaluru;

Editing by Shinjini Ganguli and Devika Syamnath)