01:44 PM EDT, 08/12/2025 (MT Newswires) -- Tech stocks were higher Tuesday afternoon, with the Technology Select Sector SPDR Fund (XLK) rising 1.3% and the SPDR S&P Semiconductor ETF (XSD) climbing 4.1%.

The Philadelphia Semiconductor index rose 2.7%.

In corporate news, Alphabet's (GOOG) Google ( GOOG ) has received a $34.5 billion purchase offer from AI startup Perplexity for its Chrome browser amid an ongoing antitrust case, The Wall Street Journal reported Tuesday, citing Perplexity. Alphabet added 1.4%.

Intel ( INTC ) Chief Executive Lip-Bu Tan met with President Donald Trump and Commerce Secretary Howard Lutnick and Treasury Secretary Scott Bessent, Trump said Tuesday on Truth Social. The meeting comes days after Trump called on the CEO to step down from his post. Intel ( INTC ) shares rose 4.2%.

Chinese authorities have urged Chinese companies to avoid using Nvidia's ( NVDA ) H20 chips, especially for government-related activities, Bloomberg reported Tuesday. Nvidia ( NVDA ) shares were up 0.2%.