02:05 PM EDT, 06/11/2025 (MT Newswires) -- Tech stocks were mixed Wednesday afternoon, with the Technology Select Sector SPDR Fund (XLK) down 0.5% and the SPDR S&P Semiconductor ETF (XSD) rising 0.6%.

The Philadelphia Semiconductor index gained 0.1%.

In corporate news, SailPoint ( SAIL ) shares jumped more than 16%. The security software company raised its full-year outlook after its fiscal Q1 revenue topped Wall Street's expectations.

Meta (META) and TikTok challenged an EU supervisory fee in Europe's second-highest court, arguing the levy is disproportionate and based on flawed methodology, Reuters reported. Meta shares were down 0.6%.

Quantum computing stocks got a boost after Nvidia (NVDA) Chief Executive Jensen Huang said the technology was at an inflection point. In the coming years, quantum computing will solve "some interesting problems," Reuters reported, citing Huang. Quantum Computing ( QUBT ) jumped 28% and Rigetti Computing ( RGTI ) rose more than 10%.

Ouster (OUST) shares surged 27% after the company said Wednesday that the US Department of Defense has vetted and approved the company's OS1 digital lidar for use in unmanned aerial systems.