01:49 PM EST, 11/03/2025 (MT Newswires) -- Tech stocks were mixed Monday afternoon, with the Technology Select Sector SPDR Fund (XLK) rising 0.6% and the SPDR S&P Semiconductor ETF (XSD) shedding 1%.

The Philadelphia Semiconductor index climbed 1.1%.

In corporate news, Amazon.com ( AMZN ) secured a $38 billion deal with OpenAI that allows the Microsoft ( MSFT )-backed (MSFT) AI research lab to run its workloads on Amazon's ( AMZN ) cloud computing division. As part of the deal, the ChatGPT parent gets access to Amazon Web Services' infrastructure comprising "hundreds of thousands" Nvidia (NVDA) chips under the seven-year partnership, Amazon ( AMZN ) and OpenAI said on Monday. Amazon ( AMZN ) shares jumped nearly 5%.

Microsoft ( MSFT ) agreed to buy AI computing capacity from Australia's Iren ( IREN ) in a $9.7 billion deal that gives the American tech giant access to Nvidia's (NVDA) chips. Microsoft ( MSFT ) shares were fractionally lower, and Iren ( IREN ) surged 9%.

Alphabet (GOOG) has started an eight-part bond offering with tenors ranging from three to 50 years, Bloomberg reported. The tech giant is looking to raise $15 billion from the sale, the report said. Alphabet shares were up 0.4%.