Technology stocks were advancing premarket Friday, with the State Street Technology Select Sector SPDR Fund (XLK) 0.8% higher and the iShares Semiconductor ETF (SOXX) up 1.3%.

Akamai Technologies (AKAM) shares were up more than 15% after the company signed an $11.6 billion, seven-year commitment with Anthropic to support its CPU workload demands using Akamai Cloud's infrastructure.

MGM Resorts International (MGM) is discussing a potential bid for People (PPLI), which owns a roughly 27% stake in the casino operator, The Wall Street Journal reported, citing people familiar with the matter. Shares of People were up more than 7% pre-bell.

Gen Digital (GEN) has made an initial takeover approach for GoDaddy (GDDY) as it seeks to expand beyond cybersecurity and privacy technology, the Financial Times reported, citing people familiar with the matter. GoDaddy stock was 0.1% lower premarket.