01:16 PM EDT, 10/29/2025 (MT Newswires) -- Tech stocks rose Wednesday afternoon with the Technology Select Sector SPDR Fund (XLK) gaining 0.7% and the SPDR S&P Semiconductor ETF (XSD) advancing 2.2%.

The Philadelphia Semiconductor index added 2.1%.

In corporate news, Nvidia's ( NVDA ) shares climbed 3%, becoming the first company with a market capitalization of $5 trillion. Media reports said President Donald Trump may discuss the company's Blackwell AI chip with Chinese President Xi Jinping during a meeting on Thursday. Nvidia ( NVDA ) Chief Executive Officer Jensen Huang said Tuesday that orders worth over $500 billion have been secured for the company's AI chips through the end of next year.