Sector Update: Tech Stocks Gain Late Afternoon

04:00 PM EST, 11/11/2026 (MT Newswires) -- Tech stocks were higher late Wednesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) rising 3.4% and the State Street SPDR S&P Semiconductor ETF (XSD) adding 4.8%. The Philadelphia Semiconductor index climbed 5.7%. In sector news, Anthropic's giant IPO has drawn multiple times the orders for the shares available, driven by so-called anchor-size indications of interest, Bloomberg reported. The company and its co-founders are looking to raise as much as $90.4 billion combined from the IPO and a private placement, the report said, citing Anthropic's filing. Separately, Anthropic's bankers are considering raising the AI firm's IPO price above its initial range of $70 to $78 per share after receiving strong investor demand, potentially increasing its valuation to $1.5 trillion or more, the Financial Times reported. Separately, OpenAI's Q3 revenue surged nearly 50% to $10 billion, The Information reported. The ChatGPT maker told investors during a call that its operating losses, however, increased to $10.9 billion from $10.1 billion, the report said. In corporate news, CoreWeave (CRWV) shares climbed 24% after the company outlined plans to finance its business expansion via loans tied to customer contracts and prepayments, reducing its reliance on unsecured borrowing. Nvidia (NVDA) H200 AI chips were bought by a Chinese university with ties to the country's military last month despite the institution being on a US export blacklist, Reuters reported, citing procurement records. Nvidia shares were up 3.4%. Super Micro Computer (SMCI) shares gained more than 9% after it said Wednesday its H15 server lineup using sixth-generation Advanced Micro Devices (AMD) EPYC processors is now shipping. Meta Platforms (META) confirmed Wednesday that its head of infrastructure and co-head of engineering, Santosh Janardhan, will leave the company in early 2027. Meta shares were down 1.6%.