Sector Update: Tech Stocks Gain Tuesday Afternoon

01:55 PM EDT, 10/27/2026 (MT Newswires) -- Tech stocks were higher Tuesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) rising 1.7% and the State Street SPDR S&P Semiconductor ETF (XSD) climbing 4.5%. The Philadelphia Semiconductor index rose 3.4%. In corporate news, Broadcom (AVGO) shares rose 4.2% after Truist Securities said in a client note the company could generate up to $30 billion in sales by supplying AI equipment to Anthropic under a $63 billion financing arrangement announced Monday. Meta Platforms (META) drew orders for about five times the available shares in its upsized $25 billion stock sale that seeks to raise $98 billion for AI spending, Bloomberg reported Tuesday. Meta shares were down 1%. Meta and Nvidia (NVDA) are expanding their partnership to develop the social media giant's Muse family of AI models, and Nvidia is also planning to invest $3 billion in Meta's equity offering, Nvidia said Tuesday. Nvidia shares rose 1%. Advanced Micro Devices (AMD) and Meta also said they are advancing their strategic partnership to power Meta's superintelligence infrastructure. AMD shares climbed past 5%.