01:46 PM EDT, 03/31/2026 (MT Newswires) -- Tech stocks were higher Tuesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) rising 3.4% and the State Street SPDR S&P Semiconductor ETF (XSD) climbing 5.6%.

The Philadelphia Semiconductor index popped 5.1%.

In corporate news, Nvidia ( NVDA ) has invested $2 billion in Marvell Technology ( MRVL ) as part of a partnership between the companies. Nvidia ( NVDA ) shares rose around 5%, and Marvell ( MRVL ) jumped nearly 13%.

Oracle (ORCL) has begun laying off employees, Business Insider reported Tuesday, citing affected workers and social media posts. The layoffs appear to be global, though the full scope of the reductions could not be determined, with multiple employees indicating job cuts in posts on LinkedIn, according to the report. Oracle shares were up 4.6%.

Activist investor Irenic Capital Management has built a stake in Snap (SNAP) and is looking to make changes to improve the company's operating and financial performance, Bloomberg reported. Snap shares surged nearly 13%.

CoreWeave ( CRWV ) shares rose 9.1% after it said Tuesday it has closed an $8.5 billion delayed-draw term loan facility maturing in March 2032, to support financing for previously contracted cloud services with an AI enterprise.