03:58 PM EDT, 04/08/2024 (MT Newswires) -- Tech stocks were mixed late Monday afternoon, with the Technology Select Sector SPDR Fund (XLK) decreasing 0.1% and the SPDR S&P Semiconductor ETF (XSD) adding 1%.

The Philadelphia Semiconductor index rose 0.1%.

In corporate news, Auddia ( AUUD ) shares more than doubled after the company said the US Patent and Trademark Office granted it a patent covering the technology it deploys in an app to deliver ad-free AM/FM radio stations to paid subscribers.

Spotify ( SPOT ) is introducing a new artificial intelligence-backed feature that would let premium users create music playlists using prompts. Its shares were falling 0.2%.

Taiwan Semiconductor Manufacturing ( TSM ) said its Arizona unit agreed to preliminary terms with the US government to receive up to $11.6 billion in grants and loans as the Taiwanese chipmaker looks to expand its semiconductor production facilities in Phoenix. Its shares added 1.1%.

Model N ( MODN ) is set to be taken private by Vista Equity Partners in an all-cash deal announced Monday that values the software company at about $1.25 billion. Model N ( MODN ) shares jumped 10%.