Webtoon Entertainment stock soared about 50% in premarket trading. Disney plans to take a stake in Webtoon as the companies prepare to create a new digital platform that will house all of the entertainment giant's various comic brands, including Marvel and Star Wars. Shares of Webtoon soared 60% to $24 in overnight trading.
In conjunction with the collaboration, Disney has signed a non-binding term sheet to acquire a 2% equity interest in Webtoon, though the companies have yet to reach a definitive agreement.
Alphabet shares rose 1% in premarket trading.
Alphabet's stock rose to become the best-performing "Magnificent Seven" name on a year-to-date basis, with a 33.4% return that surpasses NVIDIA's 32.4% gain. It's an incredible comeback for Alphabet, whose stock was beaten down earlier in the year over concerns that artificial intelligence would erode Google Search and that a then-looming antitrust ruling could force unwelcome business changes. At its lowest point this year, shares of Alphabet had fallen by 24.6%.
But with Gemini taking the top spot in the iPhone's U.S. App Store this weekend and a judge handing down a better-than-expected antitrust ruling earlier this month, investors are looking at Google with refreshed optimism. Shares of Google rose over 4% on Monday.
Shares of ASML jumped over 2% on Monday. Dutch chip-gear maker ASML's $1.5 billion investment in French artificial intelligence firm Mistral has given a shot in the arm to Europe's AI ambitions and hopes for more regional tech sovereignty against the dominance of U.S. and Asian rivals.
Figure Technology Solutions rose over 5% in premarket trading after soaring 15% on the previous trading day.
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