Premarket movers: Nvidia (NVDA) is up 2.3% after the leader in AI chips said it was entering the PC market with a new chip. The news is supporting chip-design company Arm, whose ADRs (ARM) are up 13%, while weighing on chipmakers in the CPU space, with Intel down 6%, Qualcomm sinking 9.7%, and AMD down 4.3%. Other Mag 7 names are mixed (Meta Platforms +0.3%, Amazon -0.5%, Apple -0.7%, Alphabet -0.8%, Tesla -1.5%). Software stocks rally, with Microsoft (MSFT) up 4.1%, after Nvidia CEO Jensen Huang rebuffed concerns that the industry is at risk of being disrupted by more advanced AI tools. IBM jumps 14% after a video of President Donald Trump praising the company’s CEO and discussing the stock at a December event recirculated on social media over the weekend. Oculis sinks 32% after the biopharmaceutical firm said studies of its OCS-01 eye drops in patients with diabetic macular edema missed primary endpoint. Redwire is down 7.1% after Jefferies downgraded the defense company to hold from buy. Strategy is down 2.7% as Mizuho Securities cut its the price target on the Bitcoin treasury company to $265 from $320 on lower crypto prices. Taylor Morrison Home Corporation is up 23% after Berkshire Hathaway agreed to acquire the company for a total enterprise value of approximately $8.5b.(zerohedge)