03:59 PM EST, 11/18/2024 (MT Newswires) -- Tech stocks were rising late Monday afternoon, with the Technology Select Sector SPDR Fund (XLK) up 0.2% and the SPDR S&P Semiconductor ETF (XSD) adding 1.5%.

The Philadelphia Semiconductor index climbed 1%.

In corporate news, Nvidia ( NVDA ) said Monday it's working with Alphabet's (GOOG) Google Quantum AI to expedite the design of next-generation quantum computing devices. Nvidia ( NVDA ) shares were down 0.8% and Alphabet was adding 1.6%.

Quantum Computing ( QUBT ) shares sank almost 23%, after the company said it closed a registered direct offering of 16 million shares at $2.50 per share, raising $40 million in gross proceeds.

Tuya ( TUYA ) shares jumped 8% after the company announced an agreement for a strategic investment by 65 Equity Partners through the acquisition of about 13% of Tuya's ( TUYA ) total issued shares from New Enterprise Associates.

ServiceTitan said Monday it has filed a registration statement for a proposed initial public offering of class A common stock. The company plans to list the stock on Nasdaq under 'TTAN.'