12:55 PM EDT, 10/13/2025 (MT Newswires) -- Tech stocks were higher Monday afternoon, with the Technology Select Sector SPDR Fund (XLK) rising 2.6% and the SPDR S&P Semiconductor ETF (XSD) surging 6.6%.

The Philadelphia Semiconductor index climbed 5.1%.

In corporate news, Broadcom ( AVGO ) and OpenAI, which counts Microsoft ( MSFT ) as a major investor, said Monday that they are launching a partnership to deploy 10 gigawatts of OpenAI-designed AI accelerators. Broadcom ( AVGO ) shares jumped past 10%.