01:00 PM EDT, 10/08/2025 (MT Newswires) -- Tech stocks were higher Wednesday afternoon, with the Technology Select Sector SPDR Fund (XLK) rising 1.3% and the SPDR S&P Semiconductor ETF (XSD) advancing 2.2%.

The Philadelphia Semiconductor index climbed 2.4%.

In corporate news, Advanced Micro Devices' ( AMD ) recent deal with OpenAI is a major validation of the chipmaker's roadmap that may attract more clients, UBS said in a note. Loop Capital increased Advanced Micro Devices' ( AMD ) price target to $240 from $195 while reiterating a buy rating on the stock. AMD shares jumped 7%.