01:45 PM EST, 02/23/2026 (MT Newswires) -- Tech stocks were lower Monday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) falling 1.3% and the State Street SPDR S&P Semiconductor ETF (XSD) down 1.4%.

The Philadelphia Semiconductor index decreased 0.8%.

In corporate news, Microsoft ( MSFT )-backed (MSFT) OpenAI said Monday it is signing multiyear partnerships with several consulting firms to allow their enterprise clients to deploy AI co-workers. Separately, OpenAI is projecting revenue to exceed $280 billion in 2030, Bloomberg reported Friday. Microsoft ( MSFT ) shares were down 2.5%.

Nvidia ( NVDA ) chips for laptop computers are set to hit the market in 2026, marking a return to the consumer personal computer market for the AI chipmaking giant, The Wall Street Journal reported Sunday. Nvidia ( NVDA ) added 0.9%.

ASML ( ASML ) researchers said they have boosted the power of light source in its extreme ultraviolet lithography machines to 1,000 watts from 600 watts, Reuters reported Monday. The discovery could enable chipmakers to produce up to 50% more chips by the end of the decade, the report said. ASML ( ASML ) shares increased 0.6%.