03:51 PM EST, 01/17/2025 (MT Newswires) -- Tech stocks climbed late Friday afternoon, with the Technology Select Sector SPDR Fund (XLK) rising 1.6% and the SPDR S&P Semiconductor ETF (XSD) advancing 3.4%.

The Philadelphia Semiconductor index rose 2.8%.

In sector news, the US Supreme Court will allow a ban on TikTok to take effect as scheduled on Sunday after rejecting an appeal on Friday.

In corporate news, Oklo ( OKLO ) shares jumped 8% after the firm reported a collaboration with RPower to deploy a phased power model for data centers.

Crown ElectroKinetics ( CRKN ) shares soared 60% after the company said it has secured rights to deploy Electro Scan's lead detection device, the Swordfish, across 48 US states under an exclusive partnership.

ParaZero ( PRZO ) shares surged 15% after the firm said it obtained approval from Israel's Defense Export Controls Agency, part of the Ministry of Defense, to market its High-Altitude Low-Opening Precision Airdrop System.

Qorvo ( QRVO ) is the latest target of activist investor Starboard Value, which has taken a 7.7% stake in the chip maker, The Wall Street Journal reported late Thursday. Qorvo ( QRVO ) shares jumped past 13%.