04:12 PM EDT, 07/31/2025 (MT Newswires) -- Tech stocks were falling late Thursday afternoon, with the Technology Select Sector SPDR Fund (XLK) down 0.7% and the SPDR S&P Semiconductor ETF (XSD) shedding 1.6%.

The Philadelphia Semiconductor index dropped 3.1%.

In corporate news, Salesforce ( CRM ) and ServiceNow ( NOW ) are in advanced talks to each invest about $750 million in Genesys Cloud Services, Bloomberg reported. Salesforce ( CRM ) shares were down 2%, and ServiceNow ( NOW ) was shedding 3.2%.

The Cyberspace Administration of China said Thursday it was concerned over potential security risks related to Nvidia's ( NVDA ) H20 AI chips, according to media reports. Nvidia ( NVDA ) shares were down 0.7%.

Meta Platforms ( META ) shares jumped 11% after it reported higher Q2 earnings and revenue that beat analyst estimates and issued Q3 revenue guidance above expectations.

Microsoft ( MSFT ) reported late Wednesday stronger-than-expected fiscal Q4 results as cloud revenue surged 27%. Its shares rose 4%.