03:36 PM EDT, 07/12/2024 (MT Newswires) -- Tech stocks were gaining late Friday afternoon with the Technology Select Sector SPDR Fund (XLK) rising 1.5% and the SPDR S&P Semiconductor ETF (XSD) adding 2.1%.

The Philadelphia Semiconductor index gained 2.1%.

In corporate news, Intel's ( INTC ) software and developer cloud subscription revenue may reach $1 billion by the end of 2027, Reuters reported Friday, citing Chief Technology Officer Greg Lavender. Intel ( INTC ) shares jumped 4%.