Tech stocks were mixed late Tuesday afternoon, with the Technology Select Sector SPDR Fund (XLK) down 0.2% and the SPDR S&P Semiconductor ETF (XSD) up 0.3%.
The Philadelphia Semiconductor index shed 0.2%.
In corporate news, Microsoft-backed (MSFT) OpenAI introduced a beta feature for scheduling tasks in ChatGPT, OpenAI said in a blog post. Separately, Pearson (PSO) and Microsoft said they have entered into a multi-year partnership to provide new AI products and services. Microsoft shares were down 1.3%, while Pearson shares were rising nearly 2%.
Motorola Solutions (MSI) shares added 0.7%. The company may receive "full restitution" as Hytera Communications pleaded guilty to a federal charge of conspiracy to steal at least one trade secret from Motorola, the US Department of Justice said Tuesday.
Meta Platforms (META) shares fell 2.7%. Bloomberg reported, citing a memo sent to employees by Chief Executive Mark Zuckerberg, that the company plans to eliminate roughly 5% of its lowest performers with the goal of backfilling the positions in 2025.
Applied Digital (APLD) shares jumped past 9%. The company said it struck a $5 billion perpetual preferred equity funding facility with Macquarie to back Applied's development of data centers.
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