Tech stocks were falling late Thursday afternoon, with the Technology Select Sector SPDR Fund (XLK) down 1% and the SPDR S&P Semiconductor ETF (XSD) dropping 2.7%.

The Philadelphia Semiconductor index was shedding 0.6%.

In corporate news, Alphabet (GOOG) and Meta Platforms (META) have held talks with big Hollywood studios about licensing content to use in the companies’ artificial intelligence video generation software, Bloomberg reported Thursday. Alphabet shares were falling 1.6%, and Meta was down 0.9%.

Nvidia shares surged almost 10% after the chipmaker reported stronger-than-expected Q1 results and issued upbeat guidance.

Greenwave Technology Solutions (GWAV) shares were gaining more than 7% after the company said late Wednesday it has retired all of its convertible debt and preferred shares.

T Stamp (IDAI) rose 0.5% after it said Thursday it has filed a patent for an artificial intelligence-based process to improve the performance of biometric-based age estimation algorithms.

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