02:18 PM EDT, 03/16/2026 (MT Newswires) -- Tech stocks were higher Monday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) rising 1.9% and the State Street SPDR S&P Semiconductor ETF (XSD) adding 2.7%.

The Philadelphia Semiconductor index climbed 2.7%.

In corporate news, Nebius ( NBIS ) shares jumped past 15% after it said Monday it signed a five-year AI infrastructure supply agreement with Meta (META) with a total contract value of up to about $27 billion. Meta was up 1.8%.

Micron Technology ( MU ) said Sunday it closed its acquisition of Powerchip Semiconductor Manufacturing's P5 semiconductor site in Miaoli County, Taiwan, which will operate as an extension of its campus in Taichung. Micron shares climbed 4.9%.

Microsoft ( MSFT )-backed (MSFT) OpenAI is in advanced talks with TPG (TPG), Brookfield Asset Management (BAM), Advent International, and Bain Capital on forming a joint venture that would distribute the AI giant's products across the private-equity firms' portfolios of companies, Reuters reported. Microsoft ( MSFT ) shares increased 0.8%.