01:51 PM EDT, 06/18/2025 (MT Newswires) -- Technology stocks were higher Wednesday afternoon, with the Technology Select Sector SPDR Fund (XLK) up 0.4% and the SPDR S&P Semiconductor ETF (XSD) rising 1.1%.

The Philadelphia Semiconductor index added 0.7%.

In sector news, Amazon.com ( AMZN ) , Alphabet's (GOOG) Google ( GOOG ), Microsoft ( MSFT ) , and Meta (META) are supporting a lobbying campaign to pass a 10-year ban on US states regulating AI models, the Financial Times reported late Tuesday. Lobbyists acting on behalf of the four tech giants are asking the US Senate to implement a 10-year moratorium on individual states introducing their own measures to regulate AI, the report said.

In corporate news, Meta Platforms ( META ) has offered Microsoft ( MSFT )-backed (MSFT) OpenAI workers signing bonuses of up to $100 million and larger annual compensation packages, media outlets reported, citing OpenAI Chief Executive Sam Altman. Meta and Microsoft ( MSFT ) shares were each up about 0.2%.

Texas Instruments ( TXN ) said it will invest over $60 billion to expand its US semiconductor manufacturing capacity. Its shares rose 0.3%.

Wolfspeed's ( WOLF ) creditors, including Apollo Global Management (APO), will take over the company as part of a deal that will speed up a Chapter 11 bankruptcy process, Bloomberg reported Tuesday. Wolfspeed ( WOLF ) shares fell 24%.

Alphabet's (GOOGL) Waymo autonomous driving unit is seeking approval from New York City's Department of Transportation to test its robotaxis in Manhattan, Bloomberg reported Wednesday. Alphabet shares were down 0.3%.