03:50 PM EDT, 07/27/2026 (MT Newswires) -- Tech stocks were lower late Monday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) shedding 0.7% and the State Street SPDR S&P Semiconductor ETF (XSD) down 0.8%. The Philadelphia Semiconductor index fell 2.1%.

In corporate news, Nvidia ( NVDA ) has agreed to expand its partnership with South Korean conglomerate SK Group with a more than $500 billion AI infrastructure initiative. Separately, Nvidia ( NVDA ) is in talks to provide a roughly $250 billion financial backstop for Microsoft-backed (MSFT) OpenAI as part of a massive data center project in southern Ohio that could cost more than $500 billion, The Wall Street Journal reported Sunday. Nvidia ( NVDA ) shares were down 4.8%.

ASML ( ASML ) shares fell 5.6% after The Information reported that a Chinese state-backed company has started making some chipmaking equipment that could impact ASML's ( ASML ) market position.

Amazon.com's ( AMZN ) Leo subsidiary filed with the US Federal Communications Commission to launch and operate a new constellation of up to 5,105 satellites designed to connect compatible mobile devices directly from space. Amazon ( AMZN ) shares eased 0.1%.

Cognizant Technology Solutions ( CTSH ) said Monday it has struck a five-year partnership with Andover to scale its systems, unify its data, and help lay the foundation for AI adoption in underwriting and claims. Cognizant shares rose 4.5%.