Amazon is leading the gains as tech stocks climb in premarket trade, even as Apple shares dip after its latest forecasts disappointed investors.

The continuing rebound comes at the end of a turbulent week in which AI concerns, the Iran war, the Federal Reserve and losses at a highflying AI-focused hedge fund whipsawed markets.

The tech rally is being fueled by relief after a sale of stock by the firm, Situational Awareness, gave investors more confidence to wade back into AI-related stocks, investors said.

Nasdaq-100 futures are up more than 1%, with Amazon climbing 10% after it reported accelerating cloud-computing sales. That pales in comparison to the 18% jump for South Korea's Kospi, which had plunged in recent weeks after rapid gains earlier this year fueled by a frenzy in AI-related stocks.