01:51 PM EST, 12/11/2024 (MT Newswires) -- Tech stocks rose Wednesday afternoon, with the Technology Select Sector SPDR Fund (XLK) popping 1.6% and the SPDR S&P Semiconductor ETF (XSD) climbing 2.8%.

The Philadelphia Semiconductor index advanced 2.5%.

In corporate news, Alphabet's (GOOG) Google ( GOOG ) launched the first version of its new artificial intelligence model called Gemini 2.0. Alphabet shares jumped 4.8%.

Apple ( AAPL ) is working with Broadcom ( AVGO ) as it develops its first server chip specially designed for artificial intelligence, The Information reported. Apple ( AAPL ) shares added 0.5% and Broadcom ( AVGO ) jumped 5.8%. Separately, Apple ( AAPL ) said Wednesday that ChatGPT is now integrated into Siri as part of the updates that it released for its devices.

The US Supreme Court on Wednesday dismissed the writ of certiorari as "improvidently granted" for Nvidia's ( NVDA ) appeal of a lower court's ruling that allowed a 2018 class action by shareholders alleging securities fraud to proceed. Nvidia ( NVDA ) shares were rising 3.3%.