Technology firms rallied across US in premarket trading after blockbuster earnings from chip giant SK hynix helped boost optimism in the AI trade ahead of results from Wall Street titans Microsoft and Alphabet.

Chip stocks jumped in morning trading. SK hynix rose 11%; SanDisk rose 6%; Micron Technology rose 5%; Direxion Daily Semiconductors Bull 3x Shares, Marvell Technology, and Broadcom rose 3%; Lam Research, Super Micro Computer, and AMD rose 2%.

Optical communications stocks rose again in premarket trading. AXT Inc rose 4%; Amphenol and Photonics & Optics ETF rose 3%; Credo Technology, Lumentum, Ciena, Nokia, and Applied Optoelectronics rose 2%.