02:03 PM EDT, 09/17/2024 (MT Newswires) -- Tech stocks were mixed Tuesday afternoon, with the Technology Select Sector SPDR Fund (XLK) decreasing 0.2% and the SPDR S&P Semiconductor ETF (XSD) adding 0.3%.

The Philadelphia Semiconductor index was easing 0.3%.

In corporate news, Intel ( INTC ) shares popped nearly 3% as the chipmaker disclosed plans to turn its manufacturing business into an independent subsidiary and expand its partnership with Amazon.com's ( AMZN ) cloud computing unit to make custom artificial intelligence chips. Amazon ( AMZN ) shares rose 1.1%.

Hewlett Packard Enterprise ( HPE ) shares jumped 4.3% as BofA Securities upgraded the company to buy from neutral while raising its price target to $24 from $21.

Meta (META) said Tuesday it has rolled out Instagram Teen Accounts with built-in protections that limit who can contact teens, what content teens see and the amount of time they spend on the app. Meta shares were marginally lower.