03:28 PM EDT, 08/29/2024 (MT Newswires) -- Tech stocks were mixed late Thursday afternoon, with the Technology Select Sector SPDR Fund (XLK) falling 1% and the SPDR S&P Semiconductor ETF (XSD) rising 1.5%.

The Philadelphia Semiconductor index retreated 1%.

In corporate news, Apple ( AAPL ) is discussing a potential investment in Microsoft-backed (MSFT) OpenAI as part of a fundraising round that will push OpenAI's valuation over $100 billion, The Wall Street Journal reported. Separately, Apple ( AAPL ) told its suppliers to prepare components and parts for 88 million to 90 million smartphones ahead of the launch of the first iPhone equipped with Apple Intelligence, Nikkei reported. Apple ( AAPL ) shares rose 1.7%.