03:24 PM EDT, 10/14/2024 (MT Newswires) -- Tech stocks were rising late Monday afternoon, with the Technology Select Sector SPDR Fund (XLK) climbing 1.4% and the SPDR S&P Semiconductor ETF (XSD) adding 1.1%.

The Philadelphia Semiconductor index advanced 2%.

In corporate news, Zapata Computing ( ZPTA ) shares plunged over 71% after the company said in a regulatory filing late Friday that its board approved the cessation of operations due to insolvency.