Technology stocks were advancing pre-bell Monday, with the State Street Technology Select Sector SPDR Fund (XLK) 0.6% higher and the iShares Expanded Tech Sector ETF (IGM) up 0.3%.

Intel (INTC) is in late-stage discussions to buy AI chip startup SambaNova Systems for roughly $1.6 billion, including debt, Bloomberg reported, citing people familiar with the matter. Intel shares were up more than 1% premarket.