03:53 PM EDT, 10/17/2024 (MT Newswires) -- Tech stocks were higher late Thursday afternoon, with the Technology Select Sector SPDR Fund (XLK) rising 0.4% and the SPDR S&P Semiconductor ETF (XSD) adding 0.9%.

The Philadelphia Semiconductor index climbed 1.3%.

In corporate news, Microsoft ( MSFT )-backed (MSFT) OpenAI and Bain are extending their partnership to sell OpenAI's ChatGPT and other AI tools to the consulting firm's clients, the Wall Street Journal reported. Microsoft ( MSFT ) shares were up 0.2%.

ShiftPixy ( PIXY ) shares surged 46% after the company said it agreed to buy TurboScale, an artificial intelligence company, for $150 million in stock and debt.

Taiwan Semiconductor Manufacturing ( TSM ) shares jumped past 10% after the chipmaker issued an upbeat Q4 revenue outlook, reflecting robust demand across artificial intelligence and smartphones.

Zuora ( ZUO ) shares popped over 5% after the company agreed to be acquired by investment firm Silver Lake in partnership with an affiliate of GIC in a deal valued at about $1.7 billion.