Tech stocks were higher Wednesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) rising 1.7% and the State Street SPDR S&P Semiconductor ETF (XSD) up 0.5%.

The Philadelphia Semiconductor index climbed 1.6%.

In corporate news, Meta Platforms (META) said late Tuesday that it has entered into a multiyear partnership with Nvidia (NVDA) to build hyperscale data centers using millions of Blackwell and Rubin GPUs alongside Arm-based (ARM) Grace CPUs. Nvidia shares gained 2.4%, Arm rose 1.7%, and Meta added 0.5%.