03:37 PM EDT, 05/27/2026 (MT Newswires) -- Tech stocks were lower late Wednesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) down 0.5% and the State Street SPDR S&P Semiconductor ETF (XSD) falling 2.4%.

The Philadelphia Semiconductor index lost 1.5%.

In corporate news, Zscaler ( ZS ) shares tumbled 31% after the cloud security company provided a fiscal Q4 revenue outlook below market estimates, even though it reported better-than-expected results for the prior three-month period.

Meta Platforms ( META ) plans to sell Meta AI chatbot consumer subscriptions for the first time, as the company looks to offset its billions of dollars of investments in AI, Bloomberg reported. Meta shares rose 3.4%.

Super Micro Computer ( SMCI ) shares added 2.6% after the firm said Verda has selected its Nvidia (NVDA) GPU-accelerated, rack-scale systems for its AI cloud infrastructure in Europe.

Taiwan Semiconductor Manufacturing ( TSM ) Chief Executive C.C. Wei told employees they will receive a more than 30% increase in profit-sharing payouts on average this year, driven by strong earnings growth fueled by AI demand, Bloomberg reported. Taiwan Semiconductor shares gained 3%.