Tech stocks edged up late Thursday afternoon, with the Technology Select Sector SPDR Fund (XLK) adding 0.3% and the SPDR S&P Semiconductor ETF (XSD) increasing 0.1%.

The Philadelphia Semiconductor index fell 1.3%.

In corporate news, Intel (INTC) has decided to keep its networking and communications unit within the company after a strategic review, Reuters reported. The chipmaker was exploring options to sell several assets earlier this year to improve its financial position by shaving off non-core businesses, the report said. Intel shares were falling 8.1%.

Meta (META) Chief Executive Officer Mark Zuckerberg has discussed budget cuts as high as 30% next year for building the so-called metaverse, Bloomberg reported. Meta shares rose 3.4%.

Salesforce (CRM) late Wednesday reported fiscal Q3 earnings that exceeded Wall Street's estimates, while revenue rose less than expected. Its shares advanced 4%.

Snowflake (SNOW) shares dropped 11% in recent Thursday trading, a day after the company reported fiscal Q3 product revenue growth decelerated from Q2.