01:37 PM EDT, 10/17/2024 (MT Newswires) -- Tech stocks were higher Thursday afternoon, with the Technology Select Sector SPDR Fund (XLK) rising 1% and the SPDR S&P Semiconductor ETF (XSD) adding 1.9%.

The Philadelphia Semiconductor index climbed 2.5%.

In corporate news, Taiwan Semiconductor Manufacturing ( TSM ) shares jumped past 11% after the chipmaker issued an upbeat Q4 revenue outlook, reflecting robust demand across artificial intelligence and smartphones.