03:22 PM EDT, 07/23/2025 (MT Newswires) -- Tech stocks were mixed late Wednesday afternoon with the Technology Select Sector SPDR Fund (XLK) rising 0.5% and the SPDR S&P Semiconductor ETF (XSD) shedding 0.6%.

The Philadelphia Semiconductor index declined 0.2%.

In sector news, the White House announced plans to boost US initiatives in artificial intelligence with a focus on innovation, domestic AI infrastructure and international diplomacy and security. The strategy, dubbed "Winning the AI Race: America's AI Action Plan," outlines 90 federal policy actions across the three focus areas to be rolled out by the Trump administration in the coming weeks and months.

In corporate news, Sony ( SONY ) is considering selling its cellular chip unit as part of a shift toward its entertainment segment, Reuters reported. Sony ( SONY ) shares jumped 4.8%.