Sectors
Sector Update: Tech Stocks Mixed Friday Afternoon
Tech stocks were mixed Friday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) decreasing 0.1% and the State Street SPDR S&P Semiconductor ETF (XSD) rising 0.2%.The Philadelphia Semiconductor index was fractionally higher.In corporate news, Meta Platforms (META) is in talks to rent out computing power from its data centers to Anthropic in a deal that could be worth up to $10 billion over two years, The New York Times reported. Separately, Meta has hired Dave Brown, a senior executive at Amazon (AMZN) Web Services, to help with its data center expansion and computing infrastructure ambitions, the Wall Street Journal reported. Meta shares were down 2%.Apple (AAPL) is in early discussions with the US Justice Department regarding the settlement of a 2024 lawsuit alleging the tech giant violated antitrust laws, Bloomberg reported. Separately, Apple has sent personal legal warnings to dozens of former employees now working at Microsoft-backed (MSFT) OpenAI to find proof that the AI company stole its trade secrets, the Financial Times reported. Apple shares were shedding 1%.ASML (ASML) will give its workers globally a one-time 20,000 euro ($22,862) bonus, as AI demand boosts sales, Bloomberg reported, citing an emailed statement. The company plans to give employees a share award on Jan. 1 that begins vesting at the start of 2030 for workers who stay with the company for the entire period, the report said, citing the statement. ASML shares were fractionally higher.Alibaba-backed (BABA) Moonshot said Thursday that it is launching Kimi K3, a 2.8 trillion-parameter open-source AI model with a 1 million-token context window, describing it as the world's first open 3T-class model. Alibaba shares were declining 1.6%.
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