Check out the companies making the biggest moves in pre-market trading: Intel — The semiconductor company received a double upgrade from underperform to buy at Bank of America, citing rising demand for central processing units amid increased focus on agent-based artificial intelligence. The stock price rose nearly 5%. Oracle — Shares fell 8% after the software giant announced plans to raise an additional $20 billion in equity and debt to pay for building AI. However, the company reported overall beats on both sales and bottom line, and raised its full-year adjusted profit forecast. Chip Equipment Stocks — Oracle’s increased capital spending plans drove chip equipment stocks higher. Applied Materials and Lam Research both rose nearly 5%, KLA rose 4% and ASML Holdings rose more than 3%. Navan — Shares soared 19% after the travel management platform’s second-quarter and full-year revenue beat FactSet estimates. Navan also reported first-quarter non-GAAP earnings and revenue beats. Alcoa — The aluminum company added 2% after falling 9.5% in the previous session. Morgan Stanley reiterated its Buy rating on Alcoa’s stock, saying Wednesday’s decline due to pressure on Alcoa’s alumina business was “excessive.” —CNBC’s Lisa Kailai Han contributed reporting.
