Sector Update: Tech Stocks Mixed in Afternoon Trading

02:13 PM EDT, 10/28/2026 (MT Newswires) -- Tech stocks were mixed Wednesday afternoon with the State Street Technology Select Sector SPDR ETF (XLK) rising 0.2% and the State Street SPDR S&P Semiconductor ETF (XSD) falling 0.6%. The Philadelphia Semiconductor Index advanced 0.8%. In corporate news, OpenAI is planning to buy AI computing chips from Alphabet's (GOOGL) Google to help build its infrastructure, The Information reported. Alphabet shares rose 1.2%. ServiceNow (NOW) expanded its partnership with OpenAI to bring more AI models and agents into its products and enterprise workflows. ServiceNow shares fell 3.5%. Dropbox (DBX) is cutting about 9% of its global workforce. The company estimates the reduction will result in cash expenditures of $27 million to $33 million, primarily for severance payments, employee benefits and related costs. The shares fell 1.6%.