Xero Ltd's stock soared 10.36% intraday on Tuesday, reflecting a significant upward movement in its share price.

The surge comes as Australian technology stocks broadly advanced, tracking gains in U.S. peers. Investors cheered the unveiling of a new computer chip that promises to bring artificial intelligence capabilities to personal computing, fueling optimism across the tech sector.

Xero was among the top gainers on the broader market benchmark, with the company's shares rising alongside other sector giants as the Australian tech index climbed to a near four-month high.