Check out the companies making the biggest pre-market moves: Alibaba — The Chinese technology company’s U.S.-listed shares fell 2% after the company announced it would issue $10.2 billion in new shares to non-U.S. investors. Alibaba said all the funds raised will be used to fund its own AI projects, especially AI infrastructure. Chipmakers — The iShares Semiconductor ETF (SOXX) fell nearly 2% on Monday after falling 5.5% last week. Marvell Technology fell about 3.5%, while Advanced Micro Devices and Intel fell about 2%. Memory Stocks — A number of memory storage companies also started the week in the red before the bell. SanDisk fell more than 5%, while Western Digital and Seagate Technology fell nearly 4%. Micron Technology fell 3.5%. Nucor, Steel Dynamics — The steelmaker rose after trade talks between the U.S. and Canada collapsed on Friday. Nucor rose more than 4% and Steel Dynamics rose 3.5%. Canada plans to target the U.S. steel industry with retaliatory tariffs starting September 8th. Robinhood, Coinbase — Bitcoin price stalled around $77,000 over the weekend after a three-day rally that saw it spike 22% last week. Trading platform Robinhood soared more than 18% in a three-day crypto rally, but was down 1% before the bell. Coinbase similarly soared more than 27% during the rally, but fell 1%. Jersey Mike’s Subs — The sandwich restaurant chain operator rose 0.5% after a number of Wall Street firms initiated buy ratings on its stock. Analysts primarily say the company is undervalued and has high upside potential.
