03:25 PM EST, 01/03/2025 (MT Newswires) -- Tech stocks were higher late Friday afternoon, with the Technology Select Sector SPDR Fund (XLK) rising 1.5% and the SPDR S&P Semiconductor ETF (XSD) climbing 2.6%.

The Philadelphia Semiconductor index advanced 2.9%.

In corporate news, Microsoft ( MSFT ) plans to spend $80 billion in fiscal 2025 on data centers for artificial intelligence, Bloomberg reported Friday, citing a blog post by Microsoft ( MSFT ) President Brad Smith. Microsoft ( MSFT ) shares rose 1%.