Check out the companies making headlines before the market opens. Google — Alphabet Class A shares rose 5.6% after Bloomberg reported that Apple is in talks with Google to license its Gemini artificial intelligence engine and build it into future iPhones. Super Micro Computer – Shares rose 2.5%. The technology company, which makes servers that help artificial intelligence applications, joined the S&P 500 before trading began on Monday. The stock has risen more than 20-fold in the past two years and is up 276% so far this year. Nvidia — Shares rose 2.7% ahead of the highly anticipated GTC conference, where the chipmaker is expected to announce various artificial intelligence updates. Earlier on Monday, HSBC raised its price target to $1,050 per share from $880, saying it was encouraged by Nvidia’s roadmap for artificial intelligence products that could one day own “the entire value chain.” HashiCorp — Shares of HashiCorp rose 9.8% on news that the San Francisco-based software provider has been considering options, including a sale. Bloomberg reported the development, citing people familiar with the matter. TSMC – Taiwan Semiconductor Manufacturing Co.’s U.S.-listed shares rose 1.5% after Reuters reported that it is considering building advanced packaging capacity in Japan, citing people familiar with the matter. Tesla — Shares of Tesla rose 3.2% even as Goldman Sachs cut its price target by $30 to $190 as the electric car maker faces increased competition and slowing demand. However, the company insisted Tesla was “well-positioned for long-term growth” and pointed to the company’s strong position in the electric vehicle and clean energy markets. PepsiCo – Shares of PepsiCo rose 1.2% after Morgan Stanley upgraded the stock to overweight from equal weight. Analysts at the bank said PepsiCo’s fundamentals are expected to rebound in the second half of this year. —CNBC’s Alex Harring, Samantha Subin, Jesse Pound, Brian Evans, Yun Li, Sarah Min and Michelle Fox Theobald contributed reporting.
