Tech Rebounds After Chipmaker Selloff; Dell, Qualcomm Deal

Technology stocks looked set to recover following a sharp global selloff that dragged down chipmakers including Intel ($INTC) and Micron. Nasdaq 100 futures rose 0.5% as investors bought the dip, while Dow Jones Industrial Average futures declined 0.2%. Market participants are awaiting earnings from memory-chip maker $MICRON for insights into the health of the artificial intelligence trade. The previous session saw a hard selloff in chipmakers that rattled Wall Street, leaving equity indexes mixed.

Dell Technologies ($DELL) introduced the PowerEdge XE8812 server featuring NVIDIA Vera Rubin NVL4 architecture, designed for high-performance AI, scientific, and engineering workloads with direct liquid cooling. The launch positions $DELL within the emerging shift from standalone GPU servers to integrated, rack-scale AI infrastructure, with the company supplying systems to large AI and supercomputing customers including CoreWeave and Lawrence Berkeley National Laboratory. Meanwhile, Qualcomm ($QCOM) is nearing a $4 billion deal to acquire AI chip startup Modular, which would value the company at 2.5 times its September funding round valuation. Taiwan Semiconductor ($TSM) continues to serve as the AI chip supply-chain linchpin, benefiting from advanced nodes and packaging capabilities.

Palantir Technologies ($PLTR) entered into a partnership with Zeta Global aimed at developing unified data and artificial intelligence infrastructure for marketing applications, a move analysts described as validation for enterprise AI adoption. The collaboration sent shares of Zeta Global up 6.5% as the partnership integrates $PLTR's platform with marketing technology capabilities. Palantir stock has pulled back substantially this year, though analysts note its growth rate and outlook remain solid. Separately, ServiceNow ($NOW) partnered with Aria Systems to launch the world's first agentic Business Support System designed for communication services providers, combining $NOW's CRM and workflow automation with real-time billing and monetization technologies.

Google ($GOOGL) announced it will expand finance ad verification checks across 24 European markets, with enforcement beginning July 23 for financial services advertisers. The move represents continued regulatory compliance efforts across European markets. In quantum computing developments, stocks in the sector responded to President Trump signing two executive orders aimed at strengthening the U.S. quantum computing ecosystem with a 2028 target. Berkshire Hathaway has elevated $GOOGL to its No. 3 holding under CEO Greg Abel's leadership, moving ahead of Coca-Cola in the portfolio.

Uber Technologies ($UBER) announced a partnership with Life360 that integrates Uber Family ride services directly into the Life360 app, allowing parents to request, track, and coordinate rides for teens and other family members. The collaboration expands $UBER's reach into family-oriented mobility services. Social media analysis highlighted Southeast Asian super-app Grab Holdings, a competitor in the ride-hailing space, as having significant growth potential according to retail investor discussions.