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Sector Update: Tech Stocks Mixed Late Afternoon

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Tech stocks were mixed late Wednesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) fractionally lower and the State Street SPDR S&P Semiconductor ETF (XSD) up 0.4%.

The Philadelphia Semiconductor index climbed 0.9%.

In corporate news, Super Micro Computer (SMCI) shares surged past 20% after the firm said it expects fiscal Q4 GAAP and non-GAAP gross margins to be 15% to 17%, significantly above its 8.2% to 8.4% forecast, due to a favorable customer and product mix.

Advanced Micro Devices (AMD) committed to invest up to $5 billion in Anthropic, while the companies entered into a strategic partnership covering AMD chips. AMD will make the investment in the AI firm "in the future," the companies said Wednesday. AMD shares rose 3.1%.

Amazon (AMZN) is eliminating some roles within parts of its artificial general intelligence organization, a company spokesperson confirmed toWednesday in an emailed statement. Amazon shares were shedding 1.2%.

SpaceX's (SPCX) SpaceXAI unit is exploring several potential sites in Texas for at least one new large-scale data center, The Information reported. SpaceX shares were down 5.6%.

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