03:55 PM EDT, 05/14/2025 (MT Newswires) -- Tech stocks were higher late Wednesday afternoon, with the Technology Select Sector SPDR Fund (XLK) adding 0.4% and the SPDR S&P Semiconductor ETF (XSD) up 0.2%.

The Philadelphia Semiconductor index increased 0.2%.

In corporate news, EU regulators are expected to accept an offer from Microsoft ( MSFT ) on its Office and Teams products, which would allow the company to avoid a hefty antitrust fine, Reuters reported. Microsoft ( MSFT ) shares added 0.6%.

Nvidia ( NVDA ) shares climbed 3.5% in recent Wednesday trading, a day after the company announced a partnership with Humain, an AI firm backed by Saudi Arabia's Public Investment Fund.

Alphabet's (GOOG) Google ( GOOG ) and Advanced Micro Devices ( AMD ) also disclosed separate partnerships with Saudi AI firm Humain. Shares of AMD, which unveiled a $6 billion share buyback program Wednesday, jumped 4.5%. Alphabet shares added 3.6%.

Super Micro Computer ( SMCI ) shares surged nearly 16% after the company and DataVolt, a Saudi Arabian data center firm, said they have signed a multi-year partnership agreement valued at $20 billion.