Tech stocks were higher Wednesday afternoon, with the Technology Select Sector SPDR Fund (XLK) adding 0.8% and the SPDR S&P Semiconductor ETF (XSD) up 0.1%.
The Philadelphia Semiconductor index declined 0.6%.
In corporate news, President Donald Trump will announce on Wednesday that Apple (AAPL) has made a commitment to spend an additional $100 billion on US manufacturing, Bloomberg reported, citing a White House spokesperson. Apple shares rose more than 6%.
Arista Networks (ANET) reported an expected Q2 EPS and revenue beat, as its AI-related revenue is starting to be recognized, both from cloud and enterprise sources, Morgan Stanley said in a note Wednesday. Arista shares climbed past 17%.
Microsoft-backed (MSFT) Open AI is in early talks to sell equity owned by its current and former employees at a valuation of $500 billion, Bloomberg reported. Microsoft shares were down 0.4%.
Alphabet's (GOOG) Google said that some customer data were stolen in a breach of one of its Salesforce (CRM) database systems. Alphabet shares were rising 1%, and Salesforce was steady.
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