Sector Update: Tech Stocks Rise Late Afternoon

03:44 PM EDT, 09/03/2026 (MT Newswires) -- Tech stocks were higher late Thursday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) rising 1.2% and the State Street SPDR S&P Semiconductor ETF (XSD) up 0.1%. The Philadelphia Semiconductor Index was fractionally higher. In corporate news, Nvidia (NVDA) has agreed to buy AI platform Hugging Face in a deal worth up to $12.93 billion as the technology bellwether pledged to foster open-source models in the AI ecosystem. Nvidia shares were up 2%. Palantir (PLTR) and PwC expanded their strategic alliance to help companies deploy AI tools, PwC said Thursday. Palantir shares added 8.4%. Snowflake (SNOW) shares jumped 18% as the cloud-based data platform lifted its full-year product revenue outlook. Broadcom (AVGO) shares fell 2.3% after releasing its latest financial results. The chipmaker's guidance that its AI revenue will double in fiscal 2027 was slightly below Wall Street's consensus but the company is likely to "handily" top the projection, Truist Securities said in a note.