Tech stocks were mixed Wednesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) falling 1% and the State Street SPDR S&P Semiconductor ETF (XSD) adding 1.4%.

The Philadelphia Semiconductor Index advanced 1.3%.

In sector news, SpaceX plans to price its IPO at $135 per share, seeking to raise $75 billion, Reuters reported. The firm plans to sell 555.6 million shares in an all-primary offering and is aiming for a $1.75 trillion valuation, the report said.

Separately, xAI has halted hiring for specialists to train its Grok chatbot on a range of skills due, in part, to concerns that the company's human resources department is overwhelmed by the number of candidates, Bloomberg reported.

In corporate news, Alphabet (GOOG, GOOGL) increased the size of its equity capital raise to $84.75 billion from the previously announced $80 billion, according to a regulatory filing Tuesday. The offering includes a pledge by Berkshire Hathaway (BRK.A, BRK.B) to invest $10 billion in the tech giant in a private placement, the filing said. Alphabet's Class A and Class C shares were each down 0.2%.

Palo Alto Networks (PANW) late Tuesday reported stronger-than-expected fiscal Q3 results as an AI boom drove demand for cybersecurity. Its shares still fell 6%.

Baidu (BIDU) expects to list its chip unit Kunlunxin Technology in Hong Kong this year, The Wall Street Journal reported, citing Chief Financial Officer Henry He. Baidu shares were down 1.4%.