02:02 PM EDT, 08/08/2024 (MT Newswires) -- Tech stocks were sharply higher Thursday afternoon, with the Technology Select Sector SPDR Fund (XLK) rising 3.5% and the SPDR S&P Semiconductor ETF (XSD) jumping 6.5%.

The Philadelphia Semiconductor index spiked 6.2%.

In corporate news, ChargePoint ( CHPT ) shares popped more than 9.4%. The company said it's launching its Omni Port product, which allows any electric vehicle to charge in any parking space, regardless of its connector type, without an additional cable.

Alphabet's (GOOG, GOOGL) Google ( GOOG ) and Meta Platforms ( META ) made a secret deal to target teenagers with ads on YouTube ( GOOG ) and Instagram, the Financial Times reported Thursday. Alphabet shares were rising 2.6% and Meta was gaining 3.3%.

The UK's Competition and Markets Authority said Thursday it has enough information to launch a probe into the partnership between Amazon.com ( AMZN ) and artificial intelligence company Anthropic. Amazon ( AMZN ) shares were up 1.9%.