01:51 PM EDT, 07/05/2024 (MT Newswires) -- Tech stocks were higher Friday afternoon, with the Technology Select Sector SPDR Fund (XLK) and the SPDR S&P Semiconductor ETF (XSD) each adding 0.6%.

The Philadelphia Semiconductor index gained 0.5%.

In corporate news, Nvidia ( NVDA ) faces a "huge bottleneck" in its artificial intelligence chips, and regulators are still deciding on any potential actions, Bloomberg reported Friday, citing Margrethe Vestager, the EU commissioner for competition. Nvidia ( NVDA ) shares were shedding 0.7%.

KKR (KKR) and Francisco Partners have reached the final round of bidding to buy education software company Instructure ( INST ) and plan to deliver binding offers next week, Reuters reported late Wednesday. Instructure ( INST ) shares jumped 5.3%, and KKR was down 0.1%.

Microsoft ( MSFT ) -backed OpenAI was subject to a security breach last year that it didn't publicly disclose or report to authorities, The New York Times reported Thursday. Microsoft ( MSFT ) shares were rising 1.5%.