01:05 PM EDT, 07/03/2025 (MT Newswires) -- Tech stocks were higher Thursday afternoon, with the Technology Select Sector SPDR Fund (XLK) rising 1.3% and the SPDR S&P Semiconductor ETF (XSD) adding 1.2%.

The Philadelphia Semiconductor index was up 0.6%.

In corporate news, Datadog ( DDOG ) shares jumped nearly 16% following announcement that the software company will be joining the S&P 500 next week.

Cadence Design Systems ( CDNS ) and Synopsys ( SNPS ) shares rose 5.1% and 4.9% after the companies said that the US rescinded export restrictions on electronic design automation software to China.

Olo (OLO) on Thursday said it agreed to be acquired and taken private by Thoma Bravo in an all-cash deal, which gives the restaurant technology provider an equity value of about $2 billion. Olo shares surged nearly 14%.