03:52 PM EDT, 03/31/2025 (MT Newswires) -- Tech stocks fell late Monday afternoon with the Technology Select Sector SPDR Fund (XLK) down 0.2% and the SPDR S&P Semiconductor ETF (XSD) dropping 0.5%.

The Philadelphia Semiconductor Index shed 0.6%.

In corporate news, Microsoft ( MSFT )-backed (MSFT) OpenAI's private funding round may be slashed by $10 billion to $30 billion if it doesn't restructure to a for-profit entity by Dec. 31, CNBC reported. Microsoft ( MSFT ) shares dropped 1.2%.

Apple ( AAPL ) shares rose 2% after the company announced Apple Intelligence features are expanding to new regions and languages, and will also be available on Vision Pro.

GlobalFoundries ( GFS ) and United Microelectronics ( UMC ) are exploring a possible merger, Nikkei Asia reported. GlobalFoundries ( GFS ) shares rose 0.1%, and United Microelectronics ( UMC ) jumped 9.2%.

Arm (ARM) expects its share of the worldwide market for data center CPUs to surge to 50% by the end of 2025, up from 15% in 2024, Reuters reported, citing a senior executive. Arm shares fell 1.1%.