03:49 PM EDT, 07/14/2025 (MT Newswires) -- Tech stocks were lower late Monday afternoon, with the Technology Select Sector SPDR Fund (XLK) easing 0.1% and the SPDR S&P Semiconductor ETF (XSD) down 1.2%.

The Philadelphia Semiconductor index was shedding 0.9%.

In corporate news, the Pentagon's Chief Digital and Artificial Intelligence Office said it will grant contracts to Alphabet's (GOOG) Google ( GOOG ), OpenAI, xAI and Anthropic to accelerate the Department of Defense's adoption of advanced AI capabilities. Alphabet shares rose 0.8%.

Broadcom ( AVGO ) canceled a plan to build a microchip factory in Spain after negotiations with the government collapsed, Spanish news agency Europa Press reported Sunday. Broadcom ( AVGO ) shares were up 0.4%.

Autodesk ( ADSK ) is no longer pursuing an acquisition of PTC (PTC), Bloomberg reported Monday. Autodesk ( ADSK ) shares jumped 5.2%, and PTC was down 1.7%.

Meta (META) Chief Executive Mark Zuckerberg said Monday on Threads that the company is building "several" multi-gigawatt clusters. Meta shares were rising 0.4%.