01:45 PM EST, 02/11/2025 (MT Newswires) -- Tech stocks were mixed Tuesday afternoon with the Technology Select Sector SPDR Fund (XLK) up 0.2% and the SPDR S&P Semiconductor ETF (XSD) down 0.6%.

The Philadelphia Semiconductor index gained 0.5%.

In corporate news, Intel ( INTC ) shares jumped 7.3% after US Vice President JD Vance said that the "most powerful" artificial intelligence systems will be built in the US.

Shopify ( SHOP ) reported Q4 results above market estimates amid double-digit gross merchandise volume gains, while the e-commerce platform's revenue growth outlook in the current quarter indicated an expected slowdown on a sequential basis. The shares rose 1.2%.

GDS Holdings ( GDS ) shares surged 15% after Bloomberg reported the company is looking into an initial public offering in the US of its GDS International business for about $500 million.