Premarket movers: Mag 7 stocks are mixed: Nvidia (NVDA) falls 2.3% as AI leaders called for a slower pace of development of their most advanced and lucrative models (Alphabet +1.8%, Amazon -0.4%, Apple +0.5%, Meta +2.6%, Microsoft +0.3%, Tesla -1.5%) Chipmakers and other artificial intelligence-related firms slide. Decliners include Intel (INTC) -6%, Micron (MU) -5% and CoreWeave (CRWV) -7%. Baldwin Insurance (BWIN) gains 6% after the Financial Times reported that billionaire Michael Dell’s family office is nearing a deal to acquire the insurance brokerage firm. Corning (GLW) falls 9% after entering into a $2 billion equity distribution agreement with Goldman Sachs. Definium Therapeutics (DFTX) rises 16% after the company announced that its Phase 3 Panorama study met its primary and key secondary efficacy endpoints. Hewlett Packard Enterprise (HPE) falls 7% after Evercore ISI downgraded the company to inline from outperform, citing valuation in the wake of recent strength. Olema Pharmaceuticals (OLMA) falls 9% after AstraZeneca’s Etcamah failed to meet the primary endpoint of progression-free survival in a late-stage trial in first-line advanced breast cancer. Rum Group (RUM) rallies 11% after the Information reported that Anthropic has struck a $13.7 billion compute pact with the firm. Scholar Rock (SRRK) rises 6% after the drug developer said the US FDA has approved its muscle-targeted therapy for spinal muscular atrophy. Analysts are positive about the approval, with many raising their price targets ahead of the drug launch.