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Sector Update: Tech Stocks Advance Wednesday Afternoon

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Tech stocks were slightly higher Wednesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) up 0.1% and the State Street SPDR S&P Semiconductor ETF (XSD) adding 0.3%.

The Philadelphia Semiconductor index increased 0.4%.

In corporate news, Meta Platforms (META) has launched a new personal AI agent called Muse AI, which can send emails, book travel plans, take on goals and continue working after users close the app. Meta shares jumped past 6%.

Analog Devices (ADI) has agreed to buy Alif Semiconductor in a $1.35 billion all-cash deal that will add AI-native microcontrollers and fusion processors to its lineup. Shares rose 0.5%.

Dell Technologies (DELL) is looking to raise $4 billion in an investment-grade bond sale to refinance its debt, Bloomberg reported. Dell shares added 1.5%.

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