NewsBite analysis · AI, Business, Cloud · Funding Round
CNBC
Alibaba, Marvell, Sandisk, Coinbase and more
In the premarket session, several key tech stocks are experiencing notable movements. Alibaba is down 2% following the announcement of a $10.2 billion share issuance focused on funding AI initiatives. Marvell Technology fell nearly 3.5%, continuing the downward trend in the semiconductor sector. Other memory stocks, including Sandisk, also declined significantly amidst broader market volatility. Meanwhile, both Robinhood and Coinbase saw slight decreases after significant gains last week in Bitcoin prices.
MonitorConfidence: MediumShort term horizon
Published 24 Aug 2026, 11:55 UTC1 min read
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Summary
TL;DR
- Alibaba's shares down 2% after announcing $10.2 billion share issuance.
- Marvell Technology declines by almost 3.5% during premarket.
- Sandisk and other memory stocks off significantly before the market open.
- Bitcoin prices stalled at $77,000 after a recent surge.
- Robinhood and Coinbase face slight decreases post-crypto rally.
Interesting facts
- Alibaba plans to allocate raised funds primarily toward AI infrastructure.
- Nucor and Steel Dynamics saw increases amid ongoing U.S.-Canada trade tensions.
Coverage gaps