Tech stocks were higher Thursday afternoon, with the Technology Select Sector SPDR Fund (XLK) up 0.6% and the SPDR S&P Semiconductor ETF (XSD) rising 1.1%.
The Philadelphia Semiconductor index added 0.7%.
In corporate news, CoreWeave (CRWV) is in talks to buy Core Scientific (CORZ), The Wall Street Journal reported Thursday. CoreWeave shares eased about 0.2%, and Core Scientific jumped 28%.
Cyngn (CYN) shares jumped 245% after the company said it's partnering with Nvidia (NVDA) on autonomous vehicle solutions for industrial applications.
Amazon.com's (AMZN) Amazon Web Services vice president Vasi Philomin has left the company, Reuters reported, citing an email from Philomin. According to the report, Philomin oversaw generative artificial intelligence development. Amazon subsequently denied the departed Philomin was in charge of generative AI development. Amazon shares were rising 2.2%.
Micron Technology (MU) issued a fiscal Q4 outlook above market expectations, while the semiconductor manufacturer recorded stronger-than-expected results in the prior period. The shares were still down 2.4%.
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