03:45 PM EDT, 08/04/2026 (MT Newswires) -- Tech stocks were sharply higher late Tuesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) rising 5.4% and the State Street SPDR S&P Semiconductor ETF (XSD) up 6.7%.

The Philadelphia Semiconductor Index climbed 7%.

In corporate news, Snap (SNAP) shares surged 14% after it reported better-than-expected Q2 results amid growth in advertising revenue.

Wix.com ( WIX ) shares jumped past 17% after it reported better-than-expected Q2 results, driven by demand for its AI-powered tools.

Palantir Technologies ( PLTR ) lifted its full-year revenue guidance on Monday after a surge in US commercial sales drove stronger-than-expected Q2 results. Its shares soared past 29%.

Anthropic has inked a $10 billion deal for computing capacity with Volta Infra Holdings, a months-old infrastructure startup backed by Nvidia ( NVDA ) , Bloomberg reported. Nvidia ( NVDA ) shares rose 3%.