03:31 PM EDT, 07/26/2024 (MT Newswires) -- Tech stocks were rising late Friday afternoon, with the Technology Select Sector SPDR Fund (XLK) adding 1.1% and the SPDR S&P Semiconductor ETF (XSD) gaining 1.9%.

The Philadelphia Semiconductor index climbed 1.6%.

In corporate news, OrangeKloud Technology ( ORKT ) said Friday it has closed its initial public offering of about 2.8 million shares at $4.75 each, for gross proceeds of roughly $13.1 million. Its shares were rising 3.3%.