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U.S. stock futures climbed Monday as Nvidia $NVDA -1.45%'s new processor for personal computers extended a tech-driven rally into June, according to CNBC.
Nvidia stock gained more than 2% in premarket trading after the company announced the chip, which it described as designed for running AI agents on laptops. Dell $DELL +32.76% Technologies and HP $HPQ +8.12% Inc followed higher, with shares of Dell and HP rising more than 1% and about 4%, respectively. Intel $INTC -5.14% stock fell more than 6%, according to CNBC. Nvidia said it would work with manufacturers including Dell Technologies, Microsoft $MSFT +5.45%, and Lenovo to build the AI-capable laptops, according to The Wall Street Journal.
Dow futures were up 257 points, a gain of 0.5%, while S&P 500 futures advanced 0.3% and Nasdaq $NDAQ +1.67%-100 futures edged up 0.2%.
The gains follow a strong May for U.S. equities. Of the three major indexes, the Nasdaq Composite posted the biggest monthly move at more than 8%, followed by the S&P 500 at roughly 5% and the Dow at close to 3%, according to CNBC. Markets closed Friday at fresh highs after the U.S. and Iran reached a 60-day memorandum of understanding to extend a ceasefire.
