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Sector Update: Tech Stocks Gain Late Afternoon

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Tech stocks were higher late Wednesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) rising 1.2% and the State Street SPDR S&P Semiconductor ETF (XSD) climbing 2.9%.

The Philadelphia Semiconductor index added 2.9%.

In corporate news, Apple (AAPL) is exploring avenues to better integrate AI agents into its App Store, The Information reported. Apple shares rose 1.6%.

Wolfspeed (WOLF) shares surged past 18% after Citrini Research reportedly highlighted the company's position in the AI space.

Nvidia (NVDA) Chief Executive Jensen Huang joined President Donald Trump on his visit to Beijing, a last-minute addition that has raised expectations of progress in stalled talks over the company's H200 AI chip sales to China, Reuters reported. Nvidia shares gained 2.5%.

Amazon-backed (AMZN) Anthropic is in early discussions with investors to raise at least $30 billion in new funding at a valuation exceeding $900 billion, Bloomberg reported. Amazon shares rose 1.8%.

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Sector Update: Financial Stocks Fall Wednesday

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Sector Update: Energy Stocks Decline Late Afternoon

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Sector Update: Healthcare Stocks Higher Late Afternoon

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