03:51 PM EDT, 08/06/2025 (MT Newswires) -- Tech stocks rose late Wednesday afternoon with the Technology Select Sector SPDR Fund (XLK) adding 1.2% and the SPDR S&P Semiconductor ETF (XSD) gaining 0.2%.

The Philadelphia Semiconductor Index eased 0.1%.

President Donald Trump will announce on Wednesday that Apple ( AAPL ) has made a commitment to spend an additional $100 billion on US manufacturing, Bloomberg reported, citing a White House spokesperson. Apple ( AAPL ) shares rose 5.4%.

In corporate news, Super Micro Computer ( SMCI ) shares fell 18%, a day after the company reported fiscal Q4 results that missed Wall Street estimates.

Arista Networks ( ANET ) reported a Q2 EPS and sales beat with AI-related revenue is starting to be recognized, both from cloud and enterprise sources, Morgan Stanley said. Arista shares climbed 18%.

Microsoft ( MSFT )-backed (MSFT) Open AI is in early talks to sell equity owned by its current and former employees at a valuation of $500 billion, Bloomberg reported. Microsoft ( MSFT ) shares fell 0.6%.

Wix.com ( WIX ) shares added 1% after the company posted better-than-expected Q2 results.