02:01 PM EDT, 03/24/2026 (MT Newswires) -- Tech stocks were mixed Tuesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) decreasing 0.9% and the State Street SPDR S&P Semiconductor ETF (XSD) rising 1.4%.

The Philadelphia Semiconductor index added 0.6%.

In sector news, chipmaker SK Hynix is looking to raise up to 15 trillion South Korean won ($10.01 billion) from an IPO in the US, according to a translated Monday report from Korea Economic Daily. The company plans to issue new American depositary receipts equivalent to about 2.4% of its total shares, industry sources told the news outlet.

In corporate news, Microsoft ( MSFT )-backed (MSFT) OpenAI's chief operating officer Brad Lightcap warned of a potential bottleneck to AI infrastructure expansion due to the memory chip shortage and US energy supply constraints, Bloomberg reported. Separately, Microsoft ( MSFT ) said Tuesday it is entering an AI for nuclear collaboration with Nvidia ( NVDA ) to offer end-to-end tools that streamline site permitting, accelerate design, and optimize industry operations. Microsoft ( MSFT ) shares were down 2.8%, and Nvidia ( NVDA ) shed 0.5%.

Amazon's ( AMZN ) Amazon Web Services is accelerating the development of AI to automate tasks in its sales, business development and other areas where it recently laid off hundreds of workers, The Information reported. Amazon ( AMZN ) shares were falling 1.3%.

Alibaba ( BABA ) has introduced a central processing unit chip called the XuanTie C950 that has been designed to handle multi-step tasks carried out by AI agents, CNBC reported Tuesday. Alibaba ( BABA ) shares were shedding 1%.