Dow Futures rose 0.16%, S&P 500 Futures rose 0.09%, Nasdaq Futures rose 0.26%, reflecting a broadly risk-on tone in overnight trading.

Palantir Technologies Inc. (PLTR) rose 14.67%. The move followed Q2 beats on $1.935 billion revenue and $0.41 EPS, and a full-year sales raise to $8.15B–$8.158B.

ON Semiconductor rose 7.19%. Shares rallied after a Q2 beat and Q3 revenue guidance of $1.65B–$1.75B, driven by accelerating AI data center demand.

Snap Inc rose 6.94%. The company topped Q2 with revenue up 19% to $1.60B and EBITDA ahead, guiding above consensus on World Cup ad spending.

Hewlett Packard Enterprise (HPE) rose 3.01%. Citigroup lifted its price target to $74 from $70, citing sustained strength in AI infrastructure demand.

Marvell Technology (MRVL) rose 2.60%. Semiconductors rebounded and analysts raised targets, including KeyBanc to $400 and BNP Paribas to $275.

Western Digital rose 1.05%. The stock firmed ahead of earnings, with consensus looking for $3.30 EPS and a 41.7% revenue increase.

Amazon.com fell 1.14%. Shares eased even as AWS flagged surging AI inference demand and higher multiyear capex tied to data centers.

Chip stocks rose, with Direxion Daily Semiconductors Bull 3x Shares rising 2.91%, Advanced Micro Devices rising 1.99%, ARM Holdings rising 1.76%, Astera Labs, Inc. rising 1.54%, Intel rising 1.18%.

Memory chip stocks rose, with SanDisk Corp. rising 2.38%, Roundhill Memory ETF and Micron Technology rising 1.41%, Seagate Technology PLC rising 1.08%.

Optical communication stocks rose, with AXT Inc rising 3.38%, Applied Optoelectronics rising 3.09%, Corning rising 2.29%.

Among other individual movers, Vertiv Holdings LLC (VRT) climbed 2.32%, Caterpillar advanced 2.15%, IONQ Inc. gained 2.14%, APPLIED DIGITAL CORP (APLD) added 2.10%.