Technology stocks were edging higher premarket Tuesday, with the State Street Technology Select Sector SPDR Fund (XLK) marginally advancing and the State Street SPDR S&P Semiconductor ETF (XSD) up 4%.

IBM (IBM) shares were down more than 21% after the company issued Q2 operating earnings and revenue projections below analysts' expectations.

United Microelectronics (UMC) has begun producing silicon photonics chips in Singapore to meet growing demand for high-speed artificial intelligence connectivity, Nikkei Asia reported, citing Senior Vice President G.C. Hung. United Microelectronics stock was up more than 4% pre-bell.

Nebius Group (NBIS) has agreed to sell computing power to Reflection AI for over $1 billion in a deal that runs through 2029, according to media reports, citing a statement released from Reflection. Shares of Nebius Group were up more than 4% premarket.