Tech stocks ended the week on a mixed note as investors digested a wave of macro signals, deal news and fresh AI momentum. Optimism around artificial intelligence remained in focus after OpenAI unveiled a new enterprise product, while semiconductor sentiment got a boost from reports of a multibillion-dollar chip deal between Intel and Nvidia. A widely expected 25 basis point rate cut by the Federal Reserve, helped support broader market confidence.
Still, gains were uneven across the sector. AI infrastructure demand continued to lift some hardware and chipmakers, but others struggled with supply chain issues, cautious outlooks or profit-taking after recent rallies. While recession fears have eased, investors remain selective as they navigate a shifting rate environment and a crowded tech trade.
As markets navigated a week shaped by the Fed’s rate cut and major chip sector deals, the Technology Select Sector SPDR Fund ETF (NYSEARCA:XLK) gained 2.75%, reflecting overall resilience in the tech sector. However, semiconductor and tech services stocks showed varied performance.
Let’s take a closer look at this week’s top gainers and losers in the tech industry:
Top weekly gainers:
Intel (NASDAQ:INTC) +22.84% surged this week after it announced a $5B chip development deal with Nvidia, boosting investor optimism despite a Citi downgrade citing valuation.
Synopsys (NASDAQ:SNPS) +16.46%
Crowdstrike Holdings (NASDAQ:CRWD) +15.24% gained over the week following its positive long-term revenue outlook revealed at Fal.Con 2025, along with its AI-focused partnership with Salesforce and the acquisition of AI security platform Pangea.
Applied Materials (NASDAQ:AMAT) +13.29%
Seagate Technology Holdings (NASDAQ:STX) +12.88% rose this week on strong demand for storage devices driven by AI growth.
Top weekly losers:
Jack Henry & Associates (NASDAQ:JKHY) -5.09%.
Fair Isaac (NYSE:FICO) -4.33%.
Broadridge Financial Solutions (NYSE:BR) -4.19%.
Broadcom (NASDAQ:AVGO) -4.15% slid this week after China banned AI chip purchases from U.S. firms, ending last week’s rally sparked by Oracle’s AI cloud demand. Analysts warn the stock is overvalued with risks from dependence on few customers, weak non-AI segments, and rising ASIC competition, outweighing near-term AI gains.
Paychex (NASDAQ:PAYX) -3.78%.
U.S. Tech-based ETFs to track: (QQQ), (NYSEARCA:VGT), (XLK), (NASDAQ:SMH), (NYSEARCA:IYW), (NYSEARCA:FTEC), (NASDAQ:SOXX), (BATS:IGV), (NASDAQ:CIBR), (NYSEARCA:IGM), (NYSEARCA:IXN).