-- Tech stocks were mixed Monday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) 0.2% lower and the State Street SPDR S&P Semiconductor ETF (XSD) rising 1.4%.
The Philadelphia Semiconductor index was little changed.
In corporate news, Alphabet's (GOOGL) Google has built a strike team of engineers and researchers to enhance its AI coding models, The Information reported. Alphabet was down 0.9%.
Google is negotiating with Marvell Technology (MRVL) to develop two new processors optimized for AI inference tasks, The Information reported. Marvell shares popped 6.2%.
Meta Platforms (META) plans to initiate its planned layoffs for this year on May 20, and more cuts are expected later, Reuters reported. Meta shares fell 2.3%.