01:29 PM EST, 12/27/2024 (MT Newswires) -- Tech stocks were falling Friday afternoon, with the Technology Select Sector SPDR Fund (XLK) dropping 1.8% and the SPDR S&P Semiconductor ETF (XSD) sliding 1.9%.

The Philadelphia Semiconductor index fell 1.5%.

In corporate news, Microsoft ( MSFT )-backed (MSFT) OpenAI is looking at reorganizing itself to become a Delaware public benefit corporation to raise conventional capital while maintaining a nonprofit arm, according to an OpenAI blog post Thursday. Microsoft ( MSFT ) shares were shedding 2.2%.