Premarket Movers | Amkor Technology Soars 9%; SAP SE Rises 6% as Q2 Cloud Revenue Up 22%; Alibaba Drops 2%; Nokia Declines 3%

Amkor Technology rose 8.86% in pre-market trading, trading at $71.12/share. The surge was driven by the announcement of a multi-year strategic partnership with Nvidia to co-develop next-generation AI semiconductor advanced packaging and test technologies.

Under the agreement, Nvidia will invest approximately $1.5 billion to jointly expand Amkor's Arizona packaging and testing facility, further solidifying Amkor's position as a core supplier in AI computing advanced packaging.

SAP SE rose 5.7% in pre-market trading, trading at $154.7/share. The stock rebounded following the release of second-quarter earnings after the prior session's close.

SAP reported Q2 total revenue of 9.878 billion euros, up 9% year-over-year and slightly exceeding consensus estimates of 9.85 billion euros. Cloud business revenue grew 22% year-over-year, with current cloud backlog reaching 22.929 billion euros, up 27%.

Alibaba fell 1.7% in pre-market trading, trading at $112/share. On the news front, Alphabet reported Q2 capital expenditure of $44.9 billion, marking its first-ever negative free cash flow quarter, and raised full-year capex guidance to $195-205 billion. This triggered broad market concerns over inflating AI investment and slow profitability realization.

Nokia declined 3% in pre-market trading, trading at $9.43/share. The decline continues the sell-the-news reversal that began after the company released strong Q2 results on July 23.

Nokia reported Q2 adjusted comparable operating profit of EUR 4.34 billion, up 18% year-over-year and significantly above the market consensus of EUR 3.82 billion. Adjusted EPS of $0.08 beat the $0.07 estimate by approximately 14%.