01:41 PM EDT, 10/13/2025 (MT Newswires) -- Tech stocks were higher Monday afternoon, with the Technology Select Sector SPDR Fund (XLK) rising 2.6% and the SPDR S&P Semiconductor ETF (XSD) surging 6.6%.

The Philadelphia Semiconductor index climbed 5.1%.

In corporate news, Broadcom ( AVGO ) and OpenAI, which counts Microsoft ( MSFT ) as a major investor, said Monday that they are launching a partnership to deploy 10 gigawatts of OpenAI-designed AI accelerators. Broadcom ( AVGO ) shares jumped past 10%, and Microsoft ( MSFT ) added 0.5%.

Salesforce ( CRM ) shares rose 1.8% after it said Monday it plans to invest $15 billion in San Francisco over the next five years to support a new AI incubator hub on its campus there.

Alphabet's (GOOG) Google ( GOOG ) will sign an agreement with the Indian state of Andhra Pradesh to build a 1-gigawatt data center, Andhra minister Nara Lokesh said Monday on X. Alphabet shares rose 2.4%.