03:55 PM EDT, 07/02/2024 (MT Newswires) -- Tech stocks gained late Tuesday afternoon with the Technology Select Sector SPDR Fund (XLK) increasing 0.3% and the SPDR S&P Semiconductor ETF (XSD) climbing 1.7%.

The Philadelphia Semiconductor index rose 0.9%.

In corporate news, Meta Platforms ( META ) said it is "investing significantly" in generative artificial intelligence, particularly for games, according to a LinkedIn job posting. The shares added 0.8%.

Pure Storage ( PSTG ) shares dropped 4.4% after UBS downgraded the stock to sell from neutral while raising the price target to $47 from $44.

Roadzen ( RDZN ) shares surged 77% after the company reported higher annual revenue in the fiscal year ended March 31.

Versus Systems ( VS ) shares soared 46%, a day after the company announced a restructuring and the appointment of Curtis Wolfe as interim chief executive officer.