01:55 PM EDT, 04/02/2026 (MT Newswires) -- Tech stocks were higher Thursday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) up 0.1% and the State Street SPDR S&P Semiconductor ETF (XSD) adding 0.4%.

The Philadelphia Semiconductor index decreased 0.4%.

In corporate news, Penguin Solutions ( PENG ) shares jumped past 13% after the firm reported better-than-expected fiscal Q2 results.

Microsoft ( MSFT ) is looking to develop large, state-of-the-art AI models by 2027 as part of an effort to build in-house alternatives to OpenAI and Anthropic, Bloomberg reported, citing an interview with Microsoft AI CEO Mustafa Suleyman. Microsoft ( MSFT ) shares rose 0.4%.

Amazon.com ( AMZN ) is in talks to acquire satellite company Globalstar ( GSAT ) , the Financial Times reported late Wednesday. Discussions are ongoing and complex due to Apple ( AAPL ) , which owns a 20% stake in Globalstar ( GSAT ) and must be involved in the negotiations. Amazon ( AMZN ) shares were down 0.9%, Globalstar ( GSAT ) shares jumped past 7%, and Apple ( AAPL ) was shedding 0.4%.