Artificial-intelligence stocks were mounting a comeback on Wednesday, having slumped the previous session, as hopes of a peace deal between the U.S. and Iran led investors to pile back into some of the market's best-loved names.

Intel rose 3.5% after the company said it was ready to start trial runs of the latest version of its chip-manufacturing process.

Other AI-linked stocks were also racking up gains. Chip maker Advanced Micro Devices added 2.7%. Chips-and-networking company Marvell Technology ticked up 2.6%. Memory-chip maker Micron Technology advanced 3.5% and flash memory product supplier Sandisk climbed 2.2%.

These stocks were also making moves in premarket trading:

BMW dropped 6.5% after the German auto maker slashed its profit outlook, citing intense competition in China and the impact of the Iran war.

CarMax gained 3.6% after the used car retailer reported better-than-expected first-quarter earnings.

La-Z-Boy jumped 17% after the furniture maker topped analysts' fourth-quarter earnings target, as an aggressive expansion plan paid off.

SpaceX added 3.5%. The rocket and AI company's stock has surged since its trading debut on Friday, although investors could face a reckoning when a lockup period for shares ends.