Chip and storage shares jumped in overnight trading. Credo up over 7%; Broadcom up 5%; Marvell up nearly 3%; SanDisk, Western Digital, Micron up around 1%.

Chip designer Broadcom ​forecast second-quarter revenue above Wall Street estimates on Wednesday, a sign of strong demand for advanced ‌chips used in data centers powering artificial intelligence applications.

It also announced a new share repurchase program of up to $10 billion through the end of the year.

Ses AI Corp. shares crumbled over22% in overnight trading after the company released its fourth-quarter earnings report, missing the Street's revenue expectations and guiding to fiscal 2026 revenue below estimates.

SES AI reported quarterly losses of four cents per share, which beat the analyst consensus estimate for a loss of five cents.

Quarterly revenue came in at $4.56 million, which missed the Street estimate of $6.64 million by 31.33%.