03:58 PM EDT, 04/01/2025 (MT Newswires) -- Tech stocks were mixed late Tuesday afternoon with the Technology Select Sector SPDR Fund (XLK) up 0.3% and the SPDR S&P Semiconductor ETF (XSD) shedding 0.7%.

The Philadelphia Semiconductor Index rose 0.1%.

In sector news, microchip companies set to receive US grant money under the Biden presidency are in limbo after the Trump administration warned it may withhold funds unless the companies expand US operations, Bloomberg reported. Commerce Secretary Howard Lutnick is demanding that firms such as Taiwan Semiconductor Manufacturing ( TSM ) , Intel ( INTC ) , Micron Technology ( MU ) , GlobalFoundries ( GFS ) , and Texas Instruments ( TXN ) that won awards from the 2022 Chips and Science Act invest more in the US.

In corporate news, WNS (WNS) shares jumped nearly 7%. The technology outsourcing services firm is exploring a sale after receiving takeover interest from Capgemini, among other potential suitors, Reuters reported.

Andreessen Horowitz is in talks to add new outside investment as part of a bid led by Oracle (ORCL) to buy out TikTok's owner ByteDance, the Financial Times reported. Oracle shares were rising 1.5%.

Alibaba ( BABA ) may release Qwen 3, an updated version of its flagship AI model, as soon as this month to compete with rivals DeepSeek and OpenAI, Bloomberg reported. Alibaba ( BABA ) shares were up 0.5%.

Progress Software ( PRGS ) shares jumped past 11% after it reported higher fiscal Q1 non-GAAP earnings and revenue late Monday. The company also raised its fiscal year 2025 non-GAAP EPS forecast.