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Sector Update: Tech

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Tech stocks were mixed Thursday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) fractionally higher and the State Street SPDR S&P Semiconductor ETF (XSD) falling 1.6%.

The Philadelphia Semiconductor index increased 0.2%.

In corporate news, SpaceX (SPCX) approached Cognition AI about a potential takeover, Bloomberg reported. There are currently no active deal talks between SpaceX and the AI coding startup, but they continue to discuss a potential partnership, the report said. SpaceX shares were down 6.3%.

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