01:44 PM EDT, 06/03/2024 (MT Newswires) -- Tech stocks fell Monday afternoon, with the Technology Select Sector SPDR Fund (XLK) decreasing 0.5% and the SPDR S&P Semiconductor ETF (XSD) falling 1%.

The Philadelphia Semiconductor index was down 0.7%.

In corporate news, Nvidia ( NVDA ) Chief Executive Jensen Huang said Sunday the company's next-generation artificial intelligence chip platform Rubin will be introduced in 2026, several media outlets reported. Nvidia ( NVDA ) shares popped 3.8%.

MicroStrategy ( MSTR ) and co-founder and Chair Michael Saylor have agreed to pay $40 million to settle a tax fraud lawsuit brought by the Washington, DC's attorney general, multiple media outlets reported Monday. MicroStrategy ( MSTR ) shares were gaining 4.8%.

CalAmp ( CAMP ) has filed for Chapter 11 bankruptcy protection in a deal to be taken private by its principal secured lender. CalAmp ( CAMP ) shares plunged 59%.