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Tech stocks were sharply higher Thursday afternoon, with the Technology Select Sector SPDR Fund (XLK) adding 1.5% and the SPDR S&P Semiconductor ETF (XSD) surging 3.8%.
The Philadelphia Semiconductor index jumped 3.4%.
In corporate news, Marvell Technology MRVL shares rose over 3% after the firm said it’s expanding its collaboration with Taiwan Semiconductor Manufacturing (TSM) to develop the technology platform for the production of 2-nanometer semiconductors. Taiwan Semiconductor gained 5.5%.
STMicroelectronics 
STMPA added 4.5% after the firm said it’s releasing new industrial microprocessors with 64-bit processing and edge artificial-intelligence acceleration.
Yext 
YEXT spiked 7% after reporting that earnings in fiscal Q4 doubled from a year earlier, exceeding market expectations.
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