09:14 AM EDT, 10/04/2024 (MT Newswires) -- Technology stocks were advancing pre-bell Friday with the SPDR S&P Semiconductor ETF ( XSD ) 1.4% higher and the Technology Select Sector SPDR Fund ( XLK ) up 1.4% recently.

Amkor Technology ( AMKR ) shares advanced by over 5% after the company and Taiwan Semiconductor Manufacturing ( TSM ) said they agreed to collaborate on advanced packaging and testing capabilities in Arizona.

IonQ ( IONQ ) shares were up more than 3% after the company said it demonstrated remote ion-ion entanglement, a significant milestone in developing photonic interconnects.

Cisco Systems ( CSCO ) will soon invest in Nvidia ( NVDA ) -backed CoreWeave in a transaction that values the cloud services provider at $23 billion, Bloomberg News reported, citing unnamed people familiar with the matter. Cisco Systems ( CSCO ) shares were up 0.6% premarket.