01:30 PM EDT, 07/14/2026 (MT Newswires) -- Tech stocks were higher Tuesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) up 1.5% and the State Street SPDR S&P Semiconductor ETF (XSD) adding 2%. The Philadelphia Semiconductor index climbed up 2.9%.

In sector news, DeepSeek has started preparing for its initial public offering in China, targeting a filing by year-end or early 2027, Bloomberg reported.

In corporate news, the US has approved purchases of advanced AI chips from Nvidia ( NVDA ) and Advanced Micro Devices ( AMD ) by a ZTE unit and two other Chinese firms, Reuters reported. Nvidia ( NVDA ) shares rose 3.9%, and AMD added 4.3%.

CleanSpark ( CLSK ) has signed a 20-year infrastructure lease agreement with a global technology firm for its Sandersville, Georgia, data center campus in a deal expected to generate about $6.6 billion in contracted revenue over the initial term, the company said Tuesday. CleanSpark ( CLSK ) shares jumped past 5%.

IBM ( IBM ) shares tumbled 24% after its preliminary Q2 results fell short of Wall Street's expectations, with Chief Executive Arvind Krishna calling the performance "disappointing."