03:52 PM EDT, 08/25/2025 (MT Newswires) -- Tech stocks were mixed late Monday afternoon, with the Technology Select Sector SPDR Fund (XLK) fractionally up and the SPDR S&P Semiconductor ETF (XSD) shedding 0.6%.

The Philadelphia Semiconductor index increased 0.3%.

In sector news, Tesla (TSLA) Chief Executive Elon Musk sued Apple (AAPL) and Microsoft-backed (MSFT) OpenAI on Monday in federal court in Texas for allegedly illegally conspiring to curb AI competition, according to media reports.

In corporate news, Rocket Lab's ( RKLB ) shares jumped nearly 8% after the company launched its 70th Electron mission and won a US grant to boost semiconductor production.

Nvidia ( NVDA ) is likely to report record Q2 results amid robust demand for data center processors and its Blackwell generative AI system, Tigress Financial Intelligence said Monday. Nvidia ( NVDA ) shares were rising 1.6%.

Intel ( INTC ) shares were down 0.9% following the company's announcement last week that the US government agreed to buy a 9.9% stake in the chipmaker, as part of an $8.9 billion investment deal with the Trump administration.

Verint Systems ( VRNT ) said Monday it will be acquired by Thoma Bravo for $2 billion in an all-cash deal. Verint ( VRNT ) shares were shedding 1.3%.