03:44 PM EDT, 06/16/2026 (MT Newswires) -- Tech stocks declined late Tuesday afternoon with the State Street Technology Select Sector SPDR ETF (XLK) falling 2.3% and the State Street SPDR S&P Semiconductor ETF (XSD) retreating 4%.

The Philadelphia Semiconductor Index lost 4.6%.

In sector news, JPMorgan Chase (JPM) analysts now expect large tech companies to spend about $5.5 trillion through 2030 to develop AI infrastructure, Bloomberg reported Tuesday, citing a research note. Debt will provide roughly $4.1 trillion of the financing, the analysts reportedly said.

In corporate news, Marvell Technology ( MRVL ) shares fell past 7% in Tuesday trading, a day after outgoing CFO Willem Meintjes filed to sell 211,329 shares, according to Form 144 filings with the US Securities and Exchange Commission.

Space Exploration Technologies ( SPCX ) has agreed to acquire Anysphere, which operates AI coding agent Cursor, in a deal worth about $60 billion, just days after the rocket and satellite company went public. SpaceX shares rose 4.1%.

Apple's ( AAPL ) upcoming camera-equipped AirPods, a product meant to push the company into the AI-device market, are scheduled to launch in late 2027, Bloomberg reported. Apple ( AAPL ) shares rose 0.7%.

Palantir ( PLTR ) is facing scrutiny after data showed most UK National Health Service platform gains occurred in just a few hospital trusts, the Financial Times reported, citing data obtained by the campaign group Foxglove through a freedom-of-information request. Palantir ( PLTR ) shares were falling 1.6%.