Sector Update: Tech

Tech stocks advanced Wednesday afternoon with the Technology Select Sector SPDR Fund (XLK) rising 0.4% and the SPDR S&P Semiconductor ETF (XSD) climbing 1.9%.

The Philadelphia Semiconductor index rose 1.1%.

In corporate news, Nvidia NVDA shares fell 1.2%. The company agreed to buy Israel-based workload management and orchestration software provider Run:ai.