01:30 PM EST, 03/07/2024 (MT Newswires) -- Tech stocks gained Thursday afternoon with the Technology Select Sector SPDR Fund (XLK) rising 1.5% and the SPDR S&P Semiconductor ETF (XSD) surging 3.8%.

The Philadelphia Semiconductor index jumped 3.4%.

In corporate news, Marvell Technology ( MRVL ) shares rose 3.2% after the company said it's expanding a collaboration with Taiwan Semiconductor Manufacturing ( TSM ) to develop the technology platform for the production of 2-nanometer semiconductors. Taiwan Semiconductor gained 5.5%.