Tech stocks were lower Monday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) falling 1.5% and the State Street SPDR S&P Semiconductor ETF (XSD) dropping 3.2%.
The Philadelphia Semiconductor index shed 2.7%.
In corporate news, Nvidia (NVDA) customers are facing price increases of over 15% on servers equipped with its AI chips due to rising memory costs, Bloomberg reported Saturday. Separately, Nvidia is discussing an investment in AI startup Perplexity as part of a funding round that would value the firm at over $30 billion, The Information reported Sunday. Shares were down 2.3%.
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