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Sector Update: Tech Stocks Advance Premarket Monday

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Technology stocks were advancing premarket Monday, with the State Street Technology Select Sector SPDR Fund (XLK) up 0.3% and the State Street SPDR S&P Semiconductor ETF (XSD) 1.4% higher.

Situational Awareness increased its stakes in technology companies Micron Technology (MU) and Sandisk (SNDK) in Q2, according to regulatory filings published Friday. Micron stock was up more than 2% and Sandisk shares were more than 3% higher pre-bell.

Alibaba Group Holding's (BABA) Qwen artificial intelligence models have exceeded 3 billion in downloads globally over the last six months, topping that of Meta Platforms (META) and Alphabet's (GOOG,GOOGL) Google, Bloomberg reported, citing data from open source AI platform Hugging Face. Alibaba shares were up more than 1% premarket.

Dynatrace (DT) unit Dynatrace LLC plans a $1.25 billion private placement of exchangeable senior unsecured notes due Sept. 1, 2031, the company said. Dynatrace stock was down more than 1% pre-bell.

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Sector Update: Energy Stocks Rise Friday

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