Technology stocks were leaning lower premarket Thursday, with the State Street Technology Select Sector SPDR Fund (XLK) slightly declining and the State Street SPDR S&P Semiconductor ETF (XSD) down 0.3%.

Snowflake (SNOW) shares were up more than 23% after the company reported higher fiscal Q2 adjusted net income and revenue, and raised its fiscal 2027 product revenue outlook.

Broadcom (AVGO) stock was down more than 3% even after the company posted higher fiscal Q3 adjusted earnings and revenue.

Nvidia (NVDA) has agreed to acquire Hugging Face for $12.93 billion, Chief Executive Jensen Huang said in a blogpost. Nvidia shares were 0.7% higher pre-bell.