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Sector Update: Tech Stocks Higher Thursday Afternoon

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Tech stocks advanced Thursday 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 3%.

The Philadelphia Semiconductor Index rose 1.4%.

In sector news, Chinese AI company DeepSeek has resumed its second round of funding in which it seeks to raise close to $8 billion, Bloomberg reported.

In corporate news, SpaceX (SPCX) will build a vertically integrated semiconductor fabrication facility in Grimes County, Texas, Governor Greg Abbott said Thursday in a statement. Phase one of the Terafab project includes a capital investment of more than $16.8 billion, Abbott said. SpaceX shares were up 2.1%.

Alphabet (GOOGL) has received about $115 billion of investor orders for its latest bond sale, which is expected to raise as much as $25 billion, Bloomberg reported. Alphabet shares were down 1.3%.

AppLovin (APP) shares fell past 18% after the mobile technology company's Q2 revenue fell short of market estimates.

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Sector Update: Financial Stocks Advance Late Afternoon

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