03:35 PM EDT, 09/05/2025 (MT Newswires) -- Tech stocks advanced late Friday afternoon, with the Technology Select Sector SPDR Fund (XLK) fractionally higher and the SPDR S&P Semiconductor ETF (XSD) increasing 0.8%.

The Philadelphia Semiconductor index climbed 1.7%.

In corporate news, BILL (BILL) shares climbed past 10% after it said activist investor Starboard Value, which has built an 8.5% stake in the company, plans to mount a campaign to seek changes in its board.

President Donald Trump is likely to reinterpret a 1987 arms control treaty, allowing the US to sell military advanced drones internationally and compete with Israeli, Turkish and Chinese manufacturers, Reuters reported. The policy would allow Kratos Defense & Security Solutions (KTOS), General Atomics and Anduril Industries to have their large drones treated as "Foreign Military Sales" by the State Department, the report said. Kratos shares rose 2%.

Alphabet's (GOOG) Google ( GOOG ) faces a fine of 2.95 billion euros ($3.46 billion) for allegedly "distorting competition" in the advertising technology market, the European Commission said Friday, though the US tech giant termed the move as unjustified. Alphabet shares were rising 0.8%.

Broadcom ( AVGO ) will begin mass production next year of a custom AI chip co-designed with OpenAI, which aims to reduce its reliance on Nvidia (NVDA), the Financial Times reported. Broadcom ( AVGO ) shares jumped past 9%.