01:46 PM EDT, 04/08/2026 (MT Newswires) -- Tech stocks were higher Wednesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) rising 3.2% and the State Street SPDR S&P Semiconductor ETF (XSD) climbing 5.4%.

The Philadelphia Semiconductor index gained 6.1%.

In corporate news, Meta Platforms ( META ) shares jumped 8% after it launched Muse Spark, a new multimodal reasoning model and the first in its Muse family, as the company steps up efforts to build what it calls "personal superintelligence."

Micron Technology ( MU ) and Sandisk ( SNDK ) shares gained after fellow memory chipmaker Samsung Electronics projected increased Q1 sales and profits. Micron shares rose nearly 8%, and Sandisk ( SNDK ) climbed about 11%.

Elon Musk on Tuesday amended his lawsuit against Microsoft ( MSFT )-backed (MSFT) OpenAI to request that any damages awarded be directed to the organization's charitable arm rather than to himself, as the high-profile case heads toward trial later this month in Oakland, California, The Wall Street Journal reported. Musk is seeking more than $150 billion in damages from OpenAI and its partner Microsoft ( MSFT ), alleging the company departed from its original nonprofit mission and misled him as an early donor while shifting toward a for-profit structure. Microsoft ( MSFT ) shares rose 1%.