Tech stocks rose late Thursday afternoon, with the Technology Select Sector SPDR Fund (XLK) adding 0.4% and the SPDR S&P Semiconductor ETF (XSD) up 0.3%.

The Philadelphia Semiconductor index gained 0.6%.

In corporate news, Pegasystems (PEGA) shares jumped 15%, a day after its Q3 adjusted earnings topped estimates.

Microsoft's (MSFT) professional networking platform LinkedIn has been fined 310 million euros ($334.9 million) by the Irish Data Protection Commission over the company's targeted advertising practices, the regulator said. Microsoft shares were up 0.1%.

Alphabet's (GOOG) partnership with artificial intelligence startup Anthropic is facing an investigation from the UK's Competition and Markets Authority as the partnership may result in the "creation of a relevant merger situation" under the merger provisions of the Enterprise Act 2002, the regulator said. Alphabet shares were rising 0.2%.

IBM (IBM) shares tumbled past 6%. The company's Q3 earnings late Wednesday came in ahead of Wall Street expectations but revenue fell short of market estimates amid declines in its consulting and infrastructure segments.