01:50 PM EDT, 05/14/2025 (MT Newswires) -- Tech stocks were higher Wednesday afternoon, with the Technology Select Sector SPDR Fund (XLK) adding 0.4% and the SPDR S&P Semiconductor ETF (XSD) up 0.1%.

The Philadelphia Semiconductor index was 0.3% higher.

In corporate news, Nvidia ( NVDA ) shares rose 3.7% after midday Wednesday, 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 4.2%. Alphabet shares added 3.4%.

Super Micro Computer ( SMCI ) shares surged past 17% after the company and DataVolt, a Saudi Arabian data center firm, said they have signed a multi-year partnership agreement valued at $20 billion.

Pony AI (PONY) has confidentially filed for a listing in Hong Kong in a bid to raise additional capital to expand its business, Bloomberg reported. Pony AI shares were falling past 7%.