01:55 PM EDT, 05/08/2025 (MT Newswires) -- Tech stocks were rising Thursday afternoon, with the Technology Select Sector SPDR Fund (XLK) adding 1.6% and the SPDR S&P Semiconductor ETF (XSD) increasing 3.8%.

The Philadelphia Semiconductor index rose 2%.

In corporate news, Workday (WDAY) was awarded a contract by the US Office of Personnel Management to overhaul its HR systems and support operational efficiency, a company spokesperson said Thursday in an emailed statement to MT Newswires. Workday shares gained 3.5%.

Apple ( AAPL ) is working on new chips for future devices including its first smart glasses, AI servers and more powerful Macs, Bloomberg reported. Apple ( AAPL ) shares advanced 1.3%.

D-Wave Quantum ( QBTS ) shares surged 57% after its Q1 loss narrowed from a year earlier.