03:50 PM EDT, 09/25/2025 (MT Newswires) -- Tech stocks fell late Thursday afternoon with the Technology Select Sector SPDR Fund (XLK) decreasing 0.4% and the SPDR S&P Semiconductor ETF (XSD) dropping 0.8%.

The Philadelphia Semiconductor index shed 0.4%.

In sector news, Elon Musk's xAI received an 18-month OneGov agreement to provide its Grok AI models to federal agencies for $0.42 per organization, effective immediately, the US General Services Administration said.

In corporate news, Alphabet's (GOOG) Google ( GOOG ) is likely to be hit with a second fine in the coming months under the EU's Digital Markets Act, Reuters reported. Alphabet shares fell 0.6%.

Meta Platforms ( META ) faces preliminary findings from the European Commission alleging that Facebook and Instagram failed to provide adequate tools for users to flag illegal posts, Bloomberg reported. Meta shares fell 1.5%.

CoreWeave ( CRWV ) expanded its collaboration with OpenAI, securing a new contract worth up to $6.5 billion to help the Microsoft-backed (MSFT) AI lab boost its computing power. CoreWeave ( CRWV ) shares fell 4.3%.

Intel ( INTC ) is seeking an investment from Apple ( AAPL ) as part of an effort to boost its business, Bloomberg reported late Wednesday. Separately, Apple ( AAPL ) asked the EU to repeal the Digital Markets Act, saying it negatively impacted user experiences, delayed the rollout of new features, increased safety threats, and reduced consumer choices. Intel ( INTC ) shares jumped 8.8%, and Apple ( AAPL ) added 1.5%.