01:08 PM EDT, 07/08/2025 (MT Newswires) -- Tech stocks were higher Tuesday afternoon, with the Technology Select Sector SPDR Fund (XLK) up 0.5% and the SPDR S&P Semiconductor ETF (XSD) climbing 2.7%.

The Philadelphia Semiconductor index rose 2.2%.

In corporate news, GlobalFoundries ( GFS ) shares jumped nearly 7% after it agreed to buy MIPS, a supplier of AI and processor IP.