Sector Update: Tech Stocks Rise Late Afternoon
Tech stocks were higher late Tuesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) up 0.4% and the State Street SPDR S&P Semiconductor ETF (XSD) adding 1%. The Philadelphia Semiconductor index climbed up 1.5%.In corporate news, Intel (INTC) is expected to raise personal computer central processing unit prices by another 10% in early October, Digitimes reported, citing supply chain sources. Intel shares jumped past 9%.Palantir (PLTR) and Nebius (NBIS) agreed on a strategic partnership that will give Palantir commercial customers access to Nebius' AI-native compute infrastructure and cloud platform, the companies said Tuesday. Nebius shares gained past 7%, and Palantir was down 2.4%.Soluna (SLNH) shares popped past 5% after the company said it has energized the final 14 megawatts at Project Kati 1 in Willacy County, Texas, completing the 83-megawatt site.Qualcomm (QCOM) issued a warrant to an Amazon.com (AMZN) affiliate last week to acquire up to 25 million shares at $161.26 each, the chipmaker said. Qualcomm is also collaborating with Amazon to produce customized silicon for AI data centers and optical connectivity products. Qualcomm shares rose 2.4%, and Amazon was shedding 0.6%.
