Tech stocks were rising late Wednesday with the Technology Select Sector SPDR Fund (XLK) up 1.1% and the Philadelphia Semiconductor index adding 1.8%.
In company news, Meta Platforms (META) is prepared to face off with the EU over charges it stifled competition from classified ad rivals by linking Facebook Marketplace to its huge social network, Bloomberg reported Wednesday. The social media company at a behind-closed-doors hearing in Brussels on Thursday will try to refute EU claims that its behavior constituted an illegal abuse of dominance, the report said. Meta shares were up 3.4%.
NVIDIA (NVDA) is in talks with chip designer Arm to become an anchor investor ahead of the Arm’s US public listing, The Financial Times reported Wednesday. NVIDIA shares were rising 3.4%.
Alphabet’s (GOOG) Google is facing a $5 billion class-action lawsuit for allegedly stealing online data to train and build artificial-intelligence products such as Bard, according to a filing Tuesday in San Francisco federal court. Alphabet shares rose 1.7%.
The UK Competition and Markets Authority has warned that a restructured version of Microsoft’s (MSFT) $75 billion acquisition of Activision Blizzard (ATVI) may face a new antitrust probe, The Financial Times reported Wednesday. Microsoft shares were up 1.6%, while Activision was down 0.8%.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
Image and article originally from www.nasdaq.com. Read the original article here.