01:53 PM EDT, 09/04/2024 (MT Newswires) -- Tech stocks rose Wednesday afternoon with the Technology Select Sector SPDR Fund (XLK) adding 0.5% and the SPDR S&P Semiconductor ETF (XSD) gaining 1.3%.

The Philadelphia Semiconductor index advanced 1.3%.

In corporate news, Zscaler ( ZS ) shares tumbled nearly 18%, a day after the company's fiscal 2025 earnings outlook missed Wall Street's estimates following stronger-than-expected Q4 results.

GitLab ( GTLB ) shares jumped almost 18% as it lifted its full-year outlook and reported stronger-than-expected fiscal Q2 results.

Nvidia ( NVDA ) received a subpoena from the US Department of Justice requesting additional information as the DOJ intensifies its antitrust probe into the company's dominant position in the artificial intelligence sector, Bloomberg reported late Tuesday. Nvidia ( NVDA ) shares were rising 1.1%.