02:01 PM EDT, 04/02/2025 (MT Newswires) -- Tech stocks rose Wednesday afternoon with the Technology Select Sector SPDR Fund (XLK) up 0.7% and the SPDR S&P Semiconductor ETF (XSD) climbing 1.5%.

The Philadelphia Semiconductor Index rose 0.9%.

In corporate news, Amazon.com ( AMZN ) made a last-minute bid to buy TikTok's US operations as the deadline nears to separate the social media company from its Chinese owner or face a ban in the US, the New York Times reported. Amazon ( AMZN ) shares rose 2.3%.

ByteDance, Alibaba ( BABA ) , Tencent and other Chinese companies placed at least $16 billion worth of orders for Nvidia's ( NVDA ) H20 server chips in Q1 before a potential US ban on the sale of the chips in China, The Information reported. Nvidia ( NVDA ) shares rose 0.1%.

BlackBerry (BB) projected a drop in fiscal 2026 revenue after the company reported Q4 results topped guidance. The shares tumbled 10%.