* Futures down: Dow 0.38%, S&P 500 0.19%, Nasdaq 0.11%

* 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

(Adds comment, updates prices)

By Medha Singh and Twesha Dikshit

June 2 (Reuters) - U.S. stocks were set to open 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 28% 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 2.3% and 4.6%, 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 2.8%

"It confirms the insatiable demand that we're seeing really

across the board for AI. Every day it seems like a different

company comes out with incredible signs that this wave of AI is

alive and well," said Ryan Detrick, chief market strategist at

Carson Group.

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.

A prolonged conflict could stoke inflation, push the Federal

Reserve toward tighter monetary policy and threaten Wall

Street's record run.

"The Middle East matters, but it really is a market that's

focusing more on the continued incredible growth we continue to

see of technology and AI," Detrick said.

At 08:11 a.m. ET, Dow E-minis were down 194 points,

or 0.38%, and S&P 500 E-minis were down 14.25 points,

or 0.19%. Nasdaq 100 E-minis were down 34.5 points,

or 0.11%.

Marvell Technology's ( MRVL ) shares surged more than 19% after

Nvidia ( NVDA ) Chief Executive Officer Jensen Huang called the

chipmaker the next "trillion dollar company" at the Computex

conference in Taipei. Marvell ( MRVL ) closed below a market value of

$200 billion on Monday. 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 9.3%

after an upbeat data center revenue forecast.

Philip Morris ( PM ) slipped nearly 1% after the cigarette

maker lowered its annual profit forecast.

Generac ( GNRC ) jumped 9% after signing an agreement with a

hyperscale data center operator to supply backup power

generators.

(Reporting by Medha Singh and Twesha Dikshit in Bengaluru;

Editing by Shinjini Ganguli and Devika Syamnath)