03:44 PM EDT, 08/05/2026 (MT Newswires) -- Tech stocks were mixed late Wednesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) slightly rising and the State Street SPDR S&P Semiconductor ETF (XSD) falling 2.4%.

The Philadelphia Semiconductor index was down 0.5%.

In corporate news, SpaceX (SPCX) reported Q2 capital expenditures of $18.37 billion, up from $2.83 billion a year ago, taking the shine off a narrower-than-expected loss and above-consensus revenue growth. The shares fell past 12%.

Nvidia ( NVDA ) shares rose 4.1% after SpaceX CEO Elon Musk said the company will build its AI services exclusively on Nvidia's ( NVDA ) systems.

OpenAI accounted for over half and likely about 70% of Microsoft's ( MSFT ) AI sales in its most recent fiscal year, Bloomberg reported Wednesday, citing company disclosures and its own analysis. Microsoft ( MSFT ) shares were down 0.5%.

Shopify ( SHOP ) reported Q2 earnings above Wall Street's expectations on Wednesday, while it recorded annual growth of more than 30% each in its revenue, gross merchandise volume and gross profit metrics. Its shares jumped past 17%.