01:31 PM EST, 11/21/2025 (MT Newswires) -- Tech stocks were higher Friday afternoon, with the Technology Select Sector SPDR Fund (XLK) up 0.3% and the SPDR S&P Semiconductor ETF (XSD) rising 1.7%.

The Philadelphia Semiconductor index increased 0.2%.

In corporate news, Intuit (INTU) shares jumped 5.5% after it reported fiscal Q1 results above market expectations amid double-digit revenue growth in personal finance portal Credit Karma and accounting software QuickBooks, although it issued a downbeat earnings outlook for the ongoing three-month period.

OpenAI Chief Executive Sam Altman told colleagues in October that Alphabet-owned (GOOG) Google's ( GOOG ) recent progress in AI may "create some temporary economic headwinds" for OpenAI, The Information reported. Usage and revenue of OpenAI's ChatGPT are ahead of Google's ( GOOG ) Gemini chatbot, but the gap has been narrowing, the report said. Alphabet shares rose 2.1%.

Meta (META) is moving into electricity trading as it looks to secure long-term power supply for its AI infrastructure, Bloomberg reported, citing an interview with Urvi Parekh, the company's head of global energy. Trading electricity would give the company the flexibility to enter into long-term power supply contracts, Parekh said, adding that Meta is initially focused on power from PJM Interconnection and the Midcontinent Independent System Operator, the report said. Meta shares added 0.2%.

Oracle (ORCL) shares fell 6.4% amid mounting concerns over risk-related AI capital expenditure. The company's 5-year credit default swaps, which reflect the cost of protecting its debt, have surged past 110 basis points, the highest in three years, according to a report from FXStreet.