Nvidia (NVDA) shares are rising in premarket trading after a surge Wednesday to a market cap of more than $3 trillion led the 澳洲幸运5开奖号码历史查询:artificial intelligence (AI) darling to overtake Apple (AAPL) as the world's second-largest company after Microsoft (MSFT); shares of Lululemon Athletica (LULU) are soaring after the activewear maker raised its buyback plans by $1 billion and issued an improved full-year outlook; 澳洲幸运5开奖号码历史查询:American depositary receipts (ADRs) of chipmaker Taiwan Semiconductor Manufacturing Company (TSM) are gaining beyond their record close as the AI frenzy spreads to the world's largest contract chip manufacturer; Five Below (FIVE) shares are tumbling after the discount retailer cut its sales outlook for the year; and the 澳洲幸运5开奖号码历史查询:Federal Trade Commission (FTC) is reportedly investigating whether Microsoft꧋ structured one of its latest deals with AI startup Inflection to avoid an antitrust review. U.S.ღ stock futures are little changed in premarket trading. Here’s what investors need to know today.

1. AI Star Nvidia Exte🎉nd🍒s Gains Beyond $3T Milestone

Shares of Nvidia (NVDA) are extending their gains by about 2% in premarket trading after surging more Wednesday to a market capitalization of 澳洲幸运5开奖号码历史查询:more than $3 trillion—a 澳洲幸运5开奖号码历史查询:threshold previously surpassed by just Microsoft (MSFT) and Apple (AAPL). Nvidia is now the world’s second-largest company by market value, having overtaken Apple and trailing only Microsoft. Apple hit the $3 trillion mark in record time—taking just 96 calendar days to go from $2 trillion to that level. Nvidia, which has consistently surpassed lofty earnings forecasts, has established itself as the clear leader in AI semiconductors and got a further boost Sunday when 澳洲幸运5开奖号码历史查询:Chief Executive Officer (CEO) Jensen Huang 澳洲幸运5开奖号码历史查询:unveiled its 🥃next-generation AI platform. The company is due to carry out a 10-to-1 stock split 澳洲幸运5开奖号码历史查询:after market close Friday, with split-adju⛎sted trading to begin on Mondওay. 

2. Lulule🍎mon Jumps on Imprﷺoved Outlook, Boosted Buyback Program

Shares of Lululemon Athletica (LULU) are soaring 8% in premarket trading after the activewear maker 澳洲幸运5开奖号码历史查询:raised its full-year pro🎶fit guidance and boosted its stock buyback program by $1 billion as it posted better-than-expected quarterly results. For fiscal 2024, the company now sees 澳洲幸运5开奖号码历史查询:earnings per share (EPS) of $14.27 to $14.47, versus its earlier forecast of $14 to $14.20. In addition, the company, which repurchased $296.9 million of its shares in the first quarter, authorized an additional $1 b🌼illion to its stock buyback program, indicating management’s confidence of the company’s strategy and execution moving forward.

3. AI Frenzy Drives Chip Giant T✱SMC Above Record Close, ASML Gains

Enthusiasm for all things AI as Nvidia surpasses $3 trillion in market cap is also driving up shares of other AI plays. 澳洲幸运5开奖号码历史查询:American depositary receipts (ADRs) of chipmaker Taiwan Semiconductor Manufacturing Company (TSM), which closed Wednesday at a fresh all-time high, are gaining a further 1.8% in premarket trading. Shares of both TSMC and 澳洲幸运5开奖号码历史查询:ASML Holding (ASML)澳洲幸运5开奖号码历史查询: jumped Wednesday after analysts reported that the Dutch firm is optimistic that TSMC will receive its advanced chipmaking machine this year. Shares of ASML, whose lithography technology is used to mass-produce semiconductor chips, are 0.6% higher. TSMC is the 澳洲幸运5开奖号码历史查༒询:world’s largest contract chip manufacturer and makes chips for Nvidia and Apple, among othe🌺rs.

4. Di🧜scount Retailer Five Below Plunges on Outlook Cut as Inflation Bite🦩s 

Five Below (FIVE) shares are tumbling 16% in premarket trading after the discount retailer cut its sales outlook for the year and issued first-quarter sales that CEO Joel Anderson called “disappointing” as inflation continued to take a toll on consumers’ spending. Five Below reported first-quarter sales of $811.9 million, below analysts’ forecasts, and said it sees fiscal 2024 net sales to be between $3.79 billion and $3.87 billion, down from a previously announced range of $3.97 billion to $4.07 billion. “The quarter solidified that consumers are feeling the impact of multiple years of inflation across many key categories, such as food, fuel and rent, and are therefore far more deliberate with their discretionary dollars,” Anderson said on a call with analysts, The Wall Street Journal reported.

5. FTC Reporte൲dly Opens Antitrust Probe Into Microsoft’s AI Deal With Inflection

The 澳洲幸运5开奖号码历史查询:Federal Trade Commission (FTC) is reportedly investigating whether Microsoft structured a deal with AI startup Inflection to avoid an antitrust review. The Wall Street Journal reported that the regulator is looking into Microsoft’s hiring of 澳洲幸运5开奖号码历史查询:Inflection AI’s co-founder and almost all its employees, as well as the tech giant’s payment of about $650 million to the startup as part of a license fee so it could resell the technology. The FTC, the report said, has sent subpoenas to both companies, questioning whether their deal evaded government review. The acquisition is already under investigation by U.K. regulators, who are probing whether deals made by Microsoft for Inflection’s staff and France’s Mistral, as well as Amazon’s (AMZN) purchase of Anthropic, could hurt competition in the AI 𒀰market. Microsoft shares are edging 0.3% lower in premarket trading.