03:51 PM EST, 01/03/2025 (MT Newswires) -- Tech stocks were higher late Friday afternoon, with the Technology Select Sector SPDR Fund (XLK) rising 1.5% and the SPDR S&P Semiconductor ETF (XSD) climbing 2.6%.

The Philadelphia Semiconductor index advanced 2.9%.

In corporate news, Microsoft ( MSFT ) plans to spend $80 billion in fiscal 2025 on data centers for artificial intelligence, Bloomberg reported, citing a blog post by Microsoft ( MSFT ) President Brad Smith. Microsoft ( MSFT ) shares added 0.8%.

Intrusion (INTZ) shares rose over 3%. The company said in a regulatory filing that it entered into several privately negotiated deals last year with Streeterville Capital to exchange 8,867 shares of series A preferred stock for almost 3.2 million of common shares.

Nvidia ( NVDA ) is expected to announce new gaming products at the upcoming CES tech show, while investors will seek updates on the path of the company's generative artificial intelligence sales, Wedbush Securities said. Nvidia ( NVDA ) shares were rising 4.4%.

Desktop Metal ( DM ) shares jumped past 11% after the firm said that the Delaware Court of Chancery has approved its motion for an expedited trial in a lawsuit that the company filed on Dec. 16 against Nano Dimension ( NNDM ) . Nano Dimension ( NNDM ) shares were down 1.6%.