Premarket movers: Magnificent Seven are mixed: Nvidia slips 2.2% afters Reuters reported that China’s DeepSeek is developing its own chip to help power artificial intelligence systems (Amazon +1%, Microsoft +1.5%, Meta +1%, Alphabet +0.4%, Apple +0.6%, Tesla -0.4%) Chipmakers and other AI-related firms tumble after Samsung Electronics reported preliminary results that failed to meet high investor expectations. Broadcom (AVGO) falls 3% after Erste Group downgraded the chipmaker to hold, noting the stock’s high valuation. Cloudflare Inc. (NET) rises 3% as Scotiabank raised its recommendation on the technology company to sector outperform, anticipating upside from artificial intelligence. Crinetics Pharmaceuticals (CRNX) surges 99% after Vertex Pharmaceuticals entered a definitive agreement to buy the company for $85 per share in cash, for a total equity value of approximately $10 billion. Fiserv (FISV) is up 5.6% after the Wall Street Journal reported that big Wall Street banks have held preliminary discussions about a deal to acquire a debit network owned by the financial-technology company. Plug Power (PLUG) climbs 2.3% after receiving an electrolyzer order to power a hydrogen project in Australia.(zerohedge)