03:36 PM EDT, 09/24/2024 (MT Newswires) -- Tech stocks rose late Tuesday afternoon, with the Technology Select Sector SPDR Fund (XLK) adding 0.5% and the SPDR S&P Semiconductor ETF (XSD) gaining 1%.

The Philadelphia Semiconductor index advanced 1.3%.

In corporate news, Microsoft ( MSFT ) will invest $1.3 billion over the next three years to bolster AI infrastructure and initiatives targeted at digital marketing and AI skills, Chief Executive Satya Nadella said Tuesday at the Microsoft AI Tour 2024 in Mexico City. Microsoft ( MSFT ) shares were shedding 1%.