Tech stocks were lower Wednesday afternoon with the Technology Select Sector SPDR Fund (XLK) falling 1.2% and the SPDR S&P Semiconductor ETF (XSD) down 0.2%.

The Philadelphia Semiconductor index shed 0.3%.

In corporate news, ASML (ASML) shares rose 4.4% after the company issued an upbeat Q1 revenue outlook following better-than-expected Q4 results.

Microsoft-backed (MSFT) OpenAI said it has evidence that Chinese AI startup DeepSeek used the San Francisco-based company's AI models to train its offering in a possible infringement of OpenAI's intellectual property, the Financial Times reported. Microsoft shares fell 1.1%.

F5 (FFIV) shares jumped 11%, a day after company reported fiscal Q1 non-GAAP earnings and net revenue that beat estimates by analysts.