01:54 PM EDT, 09/30/2025 (MT Newswires) -- Tech stocks were mixed Tuesday afternoon, with the Technology Select Sector SPDR Fund (XLK) up 0.1% and the SPDR S&P Semiconductor ETF (XSD) easing 0.3%.

The Philadelphia Semiconductor index was 0.3% lower.

In corporate news, CoreWeave ( CRWV ) will supply Meta Platforms ( META ) with $14.2 billion worth of computing power under a new deal signed by the two companies, Bloomberg reported, citing an interview with CoreWeave ( CRWV ) Chief Executive Michael Intrator. CoreWeave ( CRWV ) shares jumped nearly 13%, while Meta was down 1.9%.

Wolfspeed ( WOLF ) shares surged 38% after the silicon carbide chipmaker said it completed its financial restructuring and exited Chapter 11 bankruptcy protection.

Spotify ( SPOT ) said Tuesday it appointed Gustav Soderstrom and Alex Norstrom as co-chief executive officers, with CEO Daniel Ek set to become executive chairman, effective Jan. 1. Soderstrom is currently chief product and technology officer, while Norstrom is chief business officer. Spotify ( SPOT ) shares fell past 6%.

Alibaba ( BABA ) is in talks to buy the top 13 floors of the One Causeway Bay building in Hong Kong from the Mandarin Oriental Hotel for about 7 billion Hong Kong dollars ($900 million), the Hong Kong Economic Times reported. Alibaba ( BABA ) shares were down 0.7%.