New York, Feb 9, 2026, 12:41 PM EST — Regular session
- Shares of Texas Instruments dropped after investors digested fresh governance updates and reviewed the latest annual report filings.
- A fresh SEC filing now tacks on a “forum selection” clause, steering certain shareholder lawsuits straight to Delaware courts.
- Traders are watching for U.S. payrolls out Wednesday, followed by CPI inflation data on Friday.
Texas Instruments shares edged down Monday, dipping 0.1% to $221.11 around midday after touching a low of $218.32 earlier in the session. The stock’s movement followed the company’s announcement of bylaw changes that steer some shareholder lawsuits into specific Delaware and federal courts.
The timing stands out: Texas Instruments is already facing scrutiny after it unveiled a $7.5 billion all-cash acquisition of Silicon Laboratories—marking its biggest deal since scooping up National Semiconductor in 2011. According to executives, they plan to fund the buyout through a mix of cash on hand and new debt, targeting completion in the first half of 2027.
Texas Instruments is trimming back its capital spending plans, according to the annual report released Friday. After a spree of factory investments in recent years, the chipmaker now expects capex to fall to somewhere between $2 billion and $3 billion in 2026, coming off a projected $4.55 billion investment for 2025. Revenue for that year is forecast at $17.68 billion, and the company’s free cash flow estimate lands at $2.94 billion.
Chip stocks moved higher in early trading, even as volatility persists with investors split over how long the AI spending boom will actually last—and who stands to gain. “It’s an eye-popping number, $650 billion… and that’s not something that investors are used to,” said Anna Rathbun, founder and CEO of Grenadilla Advisory, citing the massive capital plans from Big Tech. The Philadelphia SE Semiconductor index added about 1.5%. Reuters
Normally, these sorts of bylaw changes—largely just legal maintenance—don’t move the needle on share price. What they do is channel lawsuits to either Delaware’s Court of Chancery or U.S. federal court, based on the claims.
Texas Instruments leans on its size and in-house manufacturing to shield margins in rough patches, highlighting its 300-millimeter wafer production as a key cost edge. Should the Silicon Labs deal get finalized, TI picks up wireless connectivity chips—a new addition for its mostly analog portfolio.
Demand is still front and center for the market. The Semiconductor Industry Association on Friday pegged global chip sales at $1 trillion for this year. SIA chief John Neuffer told Reuters, “No one knows what’s going to happen with the AI build out a year from now, but my orders are completely full.” Reuters
A lot could go sideways here. Regulators could step in and ramp up oversight of the Silicon Labs deal. Those synergy targets? No promises—they might not hit the mark. And if data-center budgets clamp down without warning, chip stocks take a hit, even if Texas Instruments is leaning on industrial and automotive demand.
Traders watching Texas Instruments now have to keep one eye on macro data and the other on deal news. The January nonfarm payrolls, postponed, are coming Feb. 11, and CPI for January drops two days later, on Feb. 13. Unexpected filings or new word from regulators about the Silicon Labs deal could quickly change the story.
