01:45 PM EDT, 06/04/2024 (MT Newswires) -- Tech stocks were declining Tuesday afternoon, with the Technology Select Sector SPDR Fund (XLK) decreasing 0.2% and the SPDR S&P Semiconductor ETF (XSD) down 1.9%.

The Philadelphia Semiconductor index shed 1.4%.

In corporate news, CoreWeave has made an offer to buy Core Scientific ( CORZ ) for $5.75 per share, Bloomberg reported Tuesday. Core Scientific ( CORZ ) shares surged past 41%.

Snowflake's (SNOW) Sridhar Ramaswamy is on the lookout for deals in artificial intelligence to gain an edge over competitors, Bloomberg reported Tuesday, citing an interview with the new chief executive. Snowflake shares were easing 0.9%.

Cibus ( CBUS ) shares were falling more than 11% following a short-seller report by Bonitas Research alleging the agricultural technology firm has had little success developing viable products and is facing intense competition from companies in the sector.