03:30 PM EDT, 10/02/2024 (MT Newswires) -- Tech stocks were higher late Wednesday afternoon, with the Technology Select Sector SPDR Fund (XLK) rising 1% and the SPDR S&P Semiconductor ETF (XSD) adding 1.4%.

The Philadelphia Semiconductor index climbed 1.9%.

In corporate news, Microsoft ( MSFT )-backed (MSFT) OpenAI said Wednesday it raised $6.6 billion in new funding at a post-money valuation of $157 billion. Microsoft ( MSFT ) shares were down 0.4%.