03:53 PM EDT, 10/29/2025 (MT Newswires) -- Tech stocks rose late Wednesday afternoon with the Technology Select Sector SPDR Fund (XLK) gaining 0.5% and the SPDR S&P Semiconductor ETF (XSD) advancing 1.3%.

The Philadelphia Semiconductor index climbed 2.1%.

In corporate news, Jamf ( JAMF ) shares jumped 15% after the company agreed to be acquired by Francisco Partners for $2.2 billion in cash.

Teradyne ( TER ) shares surged 21%, a day after the company reported Q3 results that beat consensus estimates, along with Q4 guidance that topped expectations.

Nvidia's ( NVDA ) shares climbed 2.9%, becoming the first company to reach a market capitalization of $5 trillion. Media reports said President Donald Trump may discuss the company's Blackwell AI chip with Chinese President Xi Jinping during a meeting on Thursday. Nvidia ( NVDA ) Chief Executive Jensen Huang said Tuesday that orders worth over $500 billion have been secured for the company's AI chips through the end of next year.

Microsoft's ( MSFT ) cloud computing service Azure experienced an outage with customers reporting issues accessing the Azure Portal. On its Azure status webpage, Microsoft ( MSFT ) cited Domain Name System issues that disrupted availability across several services. Microsoft ( MSFT ) shares eased 0.3%.