03:23 PM EDT, 06/04/2025 (MT Newswires) -- Tech stocks were higher late Wednesday afternoon, with the Technology Select Sector SPDR Fund (XLK) up 0.2% and the SPDR S&P Semiconductor ETF (XSD) rising 2%.

The Philadelphia Semiconductor index climbed 1.6%.

In corporate news, Reddit ( RDDT ) shares jumped past 6%. The company filed a lawsuit against Anthropic, alleging the AI startup used its data without a licensing agreement, according to media reports Wednesday.