03:58 PM EDT, 03/17/2025 (MT Newswires) -- Tech stocks rose late Monday afternoon with the Technology Select Sector SPDR Fund (XLK) adding 1% and the SPDR S&P Semiconductor ETF (XSD) climbing 2.3%.

The Philadelphia Semiconductor index advanced 1.8%.

In corporate news, Alphabet's (GOOG, GOOGL) Taara project is spinning out of Google X to become an independent company offering high-speed internet connectivity using beams of light, Taara Chief Executive Officer Mahesh Krishnaswamy said in a blog post. Alphabet shares eased 0.2%.

Micron Technology's ( MU ) fiscal Q2 margins may be at the lower end of guidance, while favorable trends boost the semiconductor manufacturer's results in the future Wedbush Securities said. Micron shares added 2.5%.

Intel ( INTC ) shares gained 6.7%. The company's new Chief Executive Officer Lip-Bu Tan said he's considering an overhaul of the company, including significant changes to chip manufacturing and AI strategies as part of turnaround efforts, Reuters reported.

Science Applications International ( SAIC ) shares jumped 7.1% after the company increased its fiscal 2026 earnings outlook and posted stronger-than-expected Q4 results.