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Sector Update: Tech Stocks Mixed Wednesday Afternoon

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Tech stocks were mixed Wednesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) rising 0.2% and the State Street SPDR S&P Semiconductor ETF (XSD) falling 2.5%.

The Philadelphia Semiconductor index was down 0.5%.

In corporate news, SpaceX (SPCX) reported Q2 capital expenditures of $18.37 billion, up from $2.83 billion a year ago, taking the shine off a narrower-than-expected loss and above-consensus revenue growth. Shares fell past 10%.

Nvidia (NVDA) shares rose 4.3% after SpaceX CEO Elon Musk said the company will build its AI services exclusively on Nvidia's systems.

Advanced Micro Devices (AMD) shares fell 6%. Late Tuesday, the firm reported fiscal Q2 adjusted EPS and revenue above market expectations, and Q3 sales guidance also beat consensus.

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