02:01 PM EDT, 04/08/2025 (MT Newswires) -- Tech stocks were mixed Tuesday afternoon with the Technology Select Sector SPDR Fund (XLK) up 0.5% and the SPDR S&P Semiconductor ETF (XSD) falling 1.7%.

The Philadelphia Semiconductor index rose 0.4%.

In corporate news, Microsoft ( MSFT ) and Alphabet's (GOOG) cloud computing partnerships with AI companies came under scrutiny from US senators over antitrust concerns, Reuters reported. Microsoft ( MSFT ) shares rose 0.3%, and Alphabet climbed 0.3%.

Taiwan Semiconductor Manufacturing ( TSM ) may face a penalty of $1 billion or more to settle a US Commerce Department investigation into a chip it made that was discovered in an AI processor from China's Huawei, Reuters reported. Taiwan Semiconductor shares shed 0.8%.

Advanced Micro Devices ( AMD ) is facing concerns over the sustainability of its China AI business, KeyBanc said, downgrading the stock to sector weight from overweight. AMD shares fell 1.7%.