Artificial-intelligence stocks were mounting a comeback on Wednesday after getting hammered the previous session on worries about leverage in the market and the prospect of higher interest rates.

Futures tracking the Nasdaq 100 climbed 0.5% as investors piled back into some of the names that have helped power the broader market's gains this year.

Micron Technology rose 3.7% in premarket trading. The memory-chip maker is scheduled to report fiscal third-quarter earnings after the closing bell, which could help investors determine whether the AI boom has legs.

Qualcomm added 2.3% after Reuters reported, citing people familiar with the matter, that the company was in talks to provide custom chips for TikTok owner ByteDance. Qualcomm didn't respond to a request for comment from Barron's.

Advanced Micro Devices climbed 1.3%, Intel advanced 1.5%, and Super Micro Computer gained 1.8% as AI stocks rebounded.

These stocks also were making moves ahead of the opening bell:

Cerebras Systems slumped 11% after the AI chip maker reported better-than-expected third-quarter results. Expectations were high coming into the report, the company's first since it went public in May.

FedEx dropped 6.3% after the shipping company's fourth-quarter profit took a hit due to costs related to the spinoff of its freight business.

Wendy's surged 26% after a slew of posts on Reddit's WallStreetBets forum called for users to load up on the struggling fast-food chain's shares.

Write to George Glover at george.glover@dowjones.com

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June 24, 2026 07:30 ET (11:30 GMT)

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