03:16 PM EDT, 08/27/2025 (MT Newswires) -- Tech stocks were higher late Wednesday afternoon, with the Technology Select Sector SPDR Fund (XLK) and the SPDR S&P Semiconductor ETF (XSD) adding 0.4%.

The Philadelphia Semiconductor index increased 0.1%.

In corporate news, Alphabet's (GOOG) Google ( GOOG ) has eliminated 35% of its managers overseeing small teams, CNBC reported, citing audio from an all-hands meeting it reviewed. Alphabet shares were fractionally higher.