12:41 PM EDT, 07/03/2024 (MT Newswires) -- Tech stocks advanced Wednesday afternoon with the Technology Select Sector SPDR Fund (XLK) rising 1.3% and the SPDR S&P Semiconductor ETF (XSD) adding 1.5%.

The Philadelphia Semiconductor index climbed 2.1%.

In corporate news, Jeff Bezos disclosed a plan to sell 25 million shares of Amazon.com ( AMZN ) for a market value of $4.93 billion, according to a company filing late Tuesday with the US Securities and Exchange Commission. Amazon ( AMZN ) shares fell 1.4% in recent trading Wednesday.

Meta Platforms' ( META ) app Threads gained more than 175 million monthly active users in its first year, Chief Executive Officer Mark Zuckerberg said Wednesday. Meta shares rose 0.1%.

Nano Dimension ( NNDM ) agreed to buy Desktop Metal ( DM ) for $135 million to $183 million in cash. Desktop Metal ( DM ) shares surged 19%, and Nano Dimension ( NNDM ) soared 17%.