Tech stocks were higher Tuesday afternoon, with the Technology Select Sector SPDR Fund (XLK) up 0.9% and the SPDR S&P Semiconductor ETF (XSD) rising 2.3%.

The Philadelphia Semiconductor index added 1.3%.

In corporate news, MongoDB (MDB) shares jumped past 23% after it raised its full-year outlook and reported better-than-expected fiscal Q3 results amid growth in its cloud-based developer data platform.

Dell (DELL) Chief Executive Michael Dell and his wife are donating $6.25 billion toward the Invest America Initiative, a federal program signed into law in July by President Donald Trump through which the government plans to seed accounts with $1,000 for each American child born between 2025 and 2028, according to media reports. Dell shares rose 2.7%.

Apple's (AAPL) appointment of AI researcher Amar Subramanya has come at the "right time" for the technology giant as it looks to boost its AI capabilities heading into the next year, Wedbush Securities said Tuesday. Apple said late Monday that John Giannandrea was stepping down as senior vice president for machine learning and AI strategy and that it hired Subramanya as vice president of AI. Apple shares added 0.8%.

SiTime (SITM) is in talks to buy Renesas Electronics' timing business in a deal that could value the unit at as much as $2 billion including debt, Bloomberg reported. SiTime shares rose 4.8%.