Premarket movers: GameStop surges; Dell inches lower

Investing.com — Here are some stocks making moves in U.S. premarket trading on Monday, June 3. Please check back later for updates:

Shares in Nvidia (NASDAQ:) and Advanced Micro Devices (NASDAQ:) rose after the chipmakers both made announcements around their development of new artificial intelligence-optimized chips.

GameStop (NYSE:) shares skyrocketed by over 80% after Keith Gill, known as DeepF— Value on Reddit, posted a screenshot suggesting a $116 million investment in the company. According to Bloomberg News, the screenshot couldn’t be verified.

David Ellison’s Skydance Media revised an offer for Paramount Global (NASDAQ:) to purchase up to a certain number of non-voting shares in the entertainment giant at roughly $15 each, according to the Wall Street Journal. B-shares in Paramount Global were higher following the report.

Best Buy (NYSE:) jumped after the analysts at Citi raised their rating of the electronics retailer to “Buy” from “Sell,” citing hopes for a positive catalyst for the stock.

Dell Technologies (NYSE:) shares were slightly lower after analysts at Citic Securities slashed their rating of the firm to “Hold” from “Buy.”