03:38 PM EDT, 06/17/2026 (MT Newswires) -- Tech stocks were higher late Wednesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) rising 0.2% and the State Street SPDR S&P Semiconductor ETF (XSD) up 1%.

The Philadelphia Semiconductor index climbed 2.6%.

In corporate news, Figma ( FIG ) shares jumped 5.2% after Citigroup started coverage of the company's stock at buy with a $36 price target.

Intel ( INTC ) has started risk production of its most advanced chip node, 18A-P, bringing the company closer to a potential deal to make chips for Apple ( AAPL ) , CNBC reported Tuesday. Intel ( INTC ) shares rose 3.6%, and Apple ( AAPL ) was down 1.3%.

Microsoft ( MSFT )-backed (MSFT) OpenAI recorded a cash burn of $3.7 billion in Q1 of 2026, which is more than half of its $5.7 billion revenue for the period, The Information reported, citing documents shared with shareholders. Microsoft ( MSFT ) shares were down 3.7%.

Hewlett Packard Enterprise ( HPE ) shares rose 0.3% after the firm said it was selected by Vultr along with Nvidia ( NVDA ) to support large-scale AI data center deployments. Nvidia ( NVDA ) shares were down 1.4%.