Big tech stocks jumped in premarket trading on Wednesday.   TSMC rose 1.7%; Nvidia rose 1.5%; Alphabet, Amazon rose 1.4%;   Microsoft rose 1%;   Apple rose 0.5%; Tesla rose 0.4%.

Tesla Motors is set to conduct a remote recall of ~1.7M cars in China, as announced by the State Administration for Market Regulation.

The issue at hand involves a potential failure to detect when the front trunk lid is unlocked, interfering with the driver's vision and posing safety concerns.

This recall will be executed via an over-the-air software update and affects both imported and locally manufactured models.

Imported Model S and Model X vehicles and China-made Model 3 and Model Y cars will be part of the recall. The problem will be resolved through a remote software upgrade, the regulator said.

Last week in the U.S., 1.85M Tesla cars were recalled due to a similar issue — a software glitch that failed to detect an unlatched hood.

Previously in China, 1.62M Tesla cars were recalled in January for problems with their automatic assisted steering and door latch controls.

Even as Nvidia is in the midst of a pesky correction, analysts are still long on the chipmaker stock. Indeed, New Street Research upgraded NVDA stock to a "buy" rating while raising its price target to $120 per share.

According to analysts at New Street, the change comes upon recognition of the potential of Nvidia ’ s yet to be released Blackwell chip line, which is now set to release in the first quarter of 2025.