03:49 PM EDT, 10/15/2025 (MT Newswires) -- Tech stocks rose late Wednesday afternoon with the Technology Select Sector SPDR Fund (XLK) adding 0.9% and the SPDR S&P Semiconductor ETF (XSD) gaining 2.9%.

The Philadelphia Semiconductor index climbed 3.1%.

In corporate news, Meta (META) shares rose 1%. The company broke ground on a new AI-focused data center in El Paso, Texas, representing an investment of more than $1.5 billion.

Microsoft ( MSFT )-backed (MSFT) OpenAI is exploring new revenue streams, debt collaborations and additional fundraising under a five-year business plan to meet $1 trillion in spending, the Financial Times reported. Microsoft ( MSFT ) shares eased 0.2%.

Advanced Micro Devices ( AMD ) shares jumped 9.2% after Wedbush Securities raised its price target on the stock to $270 from $190 and reaffirmed its outperform rating. HSBC boosted its price objective to $310 from $185.

Alphabet's (GOOG) Google ( GOOG ) unit Waymo is launching autonomous ride-hailing services in London next year. Alphabet shares rose 1.8%.

Apple ( AAPL ) launched a new 14-inch MacBook Pro, as well as new iPad Pros with its new M5 chip. Separately, Apple's ( AAPL ) Q3 smartphone shipments in China rose 0.6% to 10.8 million units from a year earlier, even as the overall market declined, Reuters reported. The stock added 0.6%.