02:09 PM EDT, 04/09/2025 (MT Newswires) -- Tech stocks surged Wednesday afternoon, with the Technology Select Sector SPDR Fund (XLK) jumping 11% and the SPDR S&P Semiconductor ETF (XSD) rallying 15%.

The Philadelphia Semiconductor index jumped past 15%.

In corporate news, Verizon (VZ) has seen a nearly 40% sales increase by its customer service team following the deployment of an AI assistant developed by Alphabet's (GOOG) Google Cloud unit, Reuters reported. Verizon shares rose 0.1% and Alphabet was rising past 7%.

Meta's (META) Instagram is working on a version of its app that is specifically designed for Apple's ( AAPL ) iPad devices, The Information reported Tuesday. Meta shares jumped 10% and Apple ( AAPL ) climbed 11%.