03:45 PM EDT, 08/11/2026 (MT Newswires) -- Tech stocks were mixed late Tuesday afternoon with the State Street Technology Select Sector SPDR ETF (XLK) easing 0.1% and the State Street SPDR S&P Semiconductor ETF (XSD) adding 0.7%.

The Philadelphia Semiconductor Index rose 0.6%.

In corporate news, AppLovin ( APP ) shares fell 5.3% after BofA Securities downgraded the stock to neutral from buy and lowered the price target to $400 from $430. The company's 30% long-term annual revenue growth target lacks sufficient evidence, with uncertainty rising around the sustainability of its self-learning growth, BofA said.

SK hynix (SKHY) plans to resume construction at its second NAND flash facility in Dalian, China, to boost local output by about 50%, Seoul Economic Daily reported. The shares rose 3.9%.

Intel ( INTC ) priced a public offering of about 210.5 million shares at $95 each. The offering was upsized to $20 billion from $15 billion. The stock was little changed.

Nvidia ( NVDA ) is developing a new in-house AI model called Nemotron 4 that it hopes will perform on par with the best open-source AI models, The Information reported. Nvidia ( NVDA ) confirmed to MT Newswires that the company is developing Nemotron 4. Separately, Nvidia ( NVDA ) said late Monday it partnered with six major financial institutions to raise more than $500 billion in third-party capital for AI infrastructure. Nvidia ( NVDA ) shares rose 0.2%.