Sector Update: Tech Stocks Retreat Late Afternoon
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Tech stocks saw a decline late Tuesday, with the State Street Technology Select Sector SPDR ETF down 0.2% and the SPDR S&P Semiconductor ETF down 0.1%. Nvidia is reportedly in talks to acquire AI startup AI21 Labs for $2-$3 billion, while Meta Platforms has acquired Manus for over $2 billion. SoftBank completed a $40 billion investment in OpenAI, increasing its stake above 10%. Alibaba is set to invest in MiniMax's IPO in Hong Kong, with its shares falling 0.5%.
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