01:38 PM EDT, 05/06/2026 (MT Newswires) -- Tech stocks were higher Wednesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) rising 1.9% and the State Street SPDR S&P Semiconductor ETF (XSD) adding 1.6%.

The Philadelphia Semiconductor index climbed 3.4%.

In corporate news, Advanced Micro Devices ( AMD ) reported stronger-than-expected Q1 results as demand for AI infrastructure pushed data center revenue higher year-on-year. Its shares jumped past 16%.

Nvidia ( NVDA ) and Corning (GLW) said Wednesday they have entered a multiyear commercial and technology partnership to expand US manufacturing of advanced optical connectivity technology to power AI infrastructure. Nvidia ( NVDA ) shares gained 4.5%.

Alphabet's (GOOGL) Google Cloud is slated to receive about $200 billion over five years from Amazon-backed (AMZN) Anthropic for computing capacity and processors, The Information reported. Alphabet shares climbed 2.4%.