01:54 PM EDT, 07/08/2024 (MT Newswires) -- Tech stocks were higher Monday afternoon, with the Technology Select Sector SPDR Fund (XLK) rising 0.7% and the SPDR S&P Semiconductor ETF (XSD) adding 2%.

The Philadelphia Semiconductor Index climbed 1.9%.

In corporate news, Brookfield Infrastructure Partners ( BIP/PA )-backed (BIP) Data4 is mulling a $2 billion debt deal, Bloomberg reported Monday. Brookfield shares rose nearly 1%.

Intapp ( INTA ) is facing headwinds that will likely lead to a growth slowdown and a less predictable business model, Oppenheimer said. Oppenheimer downgraded the company to perform from outperform and removed its $42 target. Intapp ( INTA ) shares slumped more than 4%.

KULR Technology ( KULR ) shares added 2% after it said it has been awarded a contract of over $400,000 from NASA as part of a $2 million agreement for automated battery cell screening system.