03:39 PM EST, 02/04/2025 (MT Newswires) -- Tech stocks were higher late Tuesday afternoon, with the Technology Select Sector SPDR Fund (XLK) climbing 1.3% and the SPDR S&P Semiconductor ETF (XSD) rising 2.2%.

The Philadelphia Semiconductor index added 0.8%.

In corporate news, Spotify ( SPOT ) on Tuesday issued an upbeat revenue outlook for Q1 after closing out its first full year of profitability. Its shares jumped nearly 12%.

Okta ( OKTA ) said Tuesday it's cutting about 3% of its workforce, or about 180 full-time employees. The shares rose 0.5%.

Palantir ( PLTR ) shares jumped more than 23% after it reported late Monday higher Q4 adjusted earnings and revenue. Goldman Sachs adjusted Palantir's ( PLTR ) price target to $80 from $41.

China's State Administration for Market Regulation opened an antitrust probe into Alphabet's (GOOG) Google over suspected violations of the country's anti-monopoly law, according to media reports. Alphabet shares were rising 2.4%.