01:32 PM EDT, 04/16/2024 (MT Newswires) -- Tech stocks were gaining Tuesday afternoon, with the Technology Select Sector SPDR Fund (XLK) rising 0.4% and the SPDR S&P Semiconductor ETF (XSD) up 0.2%.

The Philadelphia Semiconductor index added 1.1%.

In corporate news, Advanced Micro Devices ( AMD ) spiked 2% after it said Tuesday it has launched new processors to expand its commercial mobile and desktop artificial intelligence personal computer portfolio.