Tech stocks were higher Wednesday afternoon, with the Technology Select Sector SPDR Fund (XLK) rising 2% and the Philadelphia Semiconductor index adding 1.9%.
In company news, Nvidia (NVDA) shares were rising 3% ahead of its fiscal Q2 results after the bell later in the day.
VCI Global (VCIG) shares soared nearly 136% after the company unveiled Wednesday a partnership between its V Galactech unit and Microsoft’s (MSFT) Azure OpenAI platform.
The US Federal Trade Commission is expected to investigate Qualcomm’s (QCOM) proposed acquisition of Autotalks, an Israeli chipmaker focused on auto safety, Politico reported late Tuesday. Qualcomm shares were up 1.3%.
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