03:50 PM EDT, 03/26/2026 (MT Newswires) -- Tech stocks were lower late Thursday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) falling 2.8% and the State Street SPDR S&P Semiconductor ETF (XSD) dropping 3%.

The Philadelphia Semiconductor index slumped 4.3%.

In sector news, Carlyle (CG) and KKR (KKR) are in exclusive talks to build two data centers on US Army military bases at an estimated $2 billion each, the Financial Times reported Thursday. The Iran conflict epitomizes the growing need for data centers within the military as AI's role in warfare increases, US Army Secretary Daniel Driscoll said, according to the report.

In corporate news, Microsoft ( MSFT ) executives have informed managers of major divisions, including Azure cloud and North American sales groups, to freeze new hiring, The Information reported. Microsoft ( MSFT ) shares were down 1.4%.

Apple ( AAPL ) intends to open Siri up to outside AI assistants as part of an overhaul to its upcoming iOS 27 operating system update, Bloomberg reported. Separately, Apple ( AAPL ) said Thursday it has added new partners to its American Manufacturing Program that seeks to bring more advanced manufacturing and critical component production to the US. Apple ( AAPL ) shares were up 0.1%.

GlobalFoundries ( GFS ) said Thursday it filed lawsuits against Tower Semiconductor ( TSEM ) , alleging the latter infringed 11 of its US patents. GlobalFoundries ( GFS ) shares fell 4.2%, and Tower Semiconductor ( TSEM ) dropped past 7%.

Pony AI (PONY) shares tumbled nearly 15% after it posted lower Q4 revenue.