Ambarella's stock surged 5.08% in pre-market trading on Tuesday, as the chipmaker benefited from a sector-wide rally in semiconductor and storage stocks.

The broader chip sector saw significant gains in pre-market trading, with companies like UMC up over 11%, Navitas and SOXL up around 6%, and Micron up nearly 4%. This industry-wide momentum appears to be driving investor interest in semiconductor companies including Ambarella.

While the specific catalyst for the sector rally isn't detailed in available reports, the coordinated movement across multiple chip and storage stocks suggests broader market sentiment or industry developments are contributing to the pre-market surge.