03:51 PM EDT, 08/10/2026 (MT Newswires) -- Tech stocks were lower late Monday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) decreasing 0.2% and the State Street SPDR S&P Semiconductor ETF (XSD) falling 2.3%.

The Philadelphia Semiconductor index was shedding 1.7%.

In corporate news, Microsoft ( MSFT ) intends to greatly increase production of its internally designed AI chips next year and hopes to persuade Anthropic and other large cloud customers to use them, The Information reported. Microsoft ( MSFT ) shares were up 1.1%.

Intel ( INTC ) said Monday it is offering $15 billion of common stock in a public offering, the proceeds of which will go toward general corporate purposes. Intel ( INTC ) shares were down 3.4%.

Nvidia ( NVDA ) is working with some of the world's largest financial firms to build a $500 billion funding package for AI infrastructure development, the Financial Times reported. Nvidia ( NVDA ) shares were shedding 2.4%.

A US appeals court on Monday rejected a bid by Meta Platforms ( META ) , Alphabet's (GOOGL) Google and ByteDance's TikTok to reverse a lower-court's ruling that forces them to face roughly 2,400 lawsuits, according to media reports. Meta shares were up 0.3%, and Alphabet added 0.4%.