02:02 PM EDT, 05/09/2025 (MT Newswires) -- Tech stocks were mixed Friday afternoon, with the Technology Select Sector SPDR Fund (XLK) decreasing 0.1% and the SPDR S&P Semiconductor ETF (XSD) adding 1.1%.

The Philadelphia Semiconductor index rose 0.7%.

In sector news, tech industry representatives are warning that new US investments pledged by major firms could be put at risk if Congress doesn't fully reinstate a tax deduction for research and development, Bloomberg reported, citing the Information Technology Industry Council.

In corporate news, Nvidia ( NVDA )-backed (NVDA) CoreWeave (CRWV) is in talks to raise $1.5 billion in debt after its IPO raised less than what was targeted, Bloomberg reported. Separately, Nvidia ( NVDA ) plans to release a reduced-performance version of its H20 AI chip for China by July, following US export restrictions on the original model, Reuters reported. Nvidia ( NVDA ) shares were shedding 0.7% and CoreWeave fell past 7%.

Pinterest's ( PINS ) Q1 results were "much better-than-feared" and showed the company's resilience in the face of tariffs and macro challenges, RBC Capital Markets said in a note Friday. Its shares jumped more than 5%.

Investigators with the US Department of Justice and Securities and Exchange Commission investigating a $32 million deal between CrowdStrike ( CRWD ) and Carahsoft Technology are looking into what senior executives may have known about it, Bloomberg reported. CrowdStrike ( CRWD ) shares fell past 4%.