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Sector Update: Tech Stocks Mixed Tuesday Afternoon

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Tech stocks were mixed Tuesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) decreasing 0.3% and the State Street SPDR S&P Semiconductor ETF (XSD) adding 0.4%.

The Philadelphia Semiconductor index rose 0.2%.

In corporate news, Intel (INTC) said Tuesday it has priced a public offering of about 210.5 million shares at $95 each. The offering was upsized to $20 billion from $15 billion. The offering was multiple-times oversubscribed, and about 33% of investors who placed orders didn't receive shares, Bloomberg reported. Intel shares were down 0.8%.

Nvidia (NVDA) is developing a new in-house AI model called Nemotron 4 that it hopes will perform on par with the best open-source AI models in the world, The Information reported. Nvidia confirmed tothat the company is developing Nemotron 4. Shares of the company were down 0.2%.

Amazon-backed (AMZN) Anthropic has agreed to a long-term deal with Riot Platforms (RIOT) for data center capacity in Texas, securing 191 megawatts of power through 2048, Bloomberg reported. Riot shares added 0.8%, and Amazon was down 2.2%.

Sea (SE) reported stronger-than-expected Q2 revenue on Tuesday as the Singapore-based company logged sharp annual gains in its e-commerce platform and the digital financial services business. Its shares jumped past 14%.

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