03:40 PM EDT, 05/28/2026 (MT Newswires) -- Tech stocks rose late Thursday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) gaining 1.3% and the State Street SPDR S&P Semiconductor ETF (XSD) adding 1.5%.

The Philadelphia Semiconductor index climbed 1.4%.

In corporate news, Amazon ( AMZN )-backed (AMZN) Anthropic has raised $65 billion in series H funding led by Altimeter Capital, Dragoneer, Greenoaks, and Sequoia Capital at a $965 billion post-money valuation, the AI firm said in a Thursday post on X. Amazon ( AMZN ) shares rose 0.8%.

Microsoft ( MSFT ) is slated to release a suite of new homegrown AI models next week at its Build conference in San Francisco, The Information reported. It will unveil a coding model aimed at boosting the competitiveness of Microsoft ( MSFT )-owned GitHub Copilot, the report said. Microsoft ( MSFT ) shares were up over 3%.

Snowflake (SNOW) shares surged 37% after the firm raised its full-year product-revenue outlook on better-than-expected fiscal Q1 results and announced a $6 billion infrastructure-spending deal with Amazon.com's ( AMZN ) cloud platform.

Nebius ( NBIS ) shares jumped past 8% after Situational Awareness, a fund led by former OpenAI researcher Leopold Aschenbrenner, reported a 5.6% stake worth nearly $2.6 billion in the company, Reuters reported.