Tech stocks were higher Friday afternoon, with the Technology Select Sector SPDR Fund (XLK) rising past 1% and the SPDR S&P Semiconductor ETF (XSD) adding 2.5%.
The Philadelphia Semiconductor index climbed 2%.
In corporate news, Microsoft-backed (MSFT) OpenAI said it started testing a prototype of an artificial intelligence search product. Separately, Microsoft's LinkedIn filed a preliminary settlement Thursday for a proposed class action that alleged the platform overcharged advertisers on inflated metrics resulting from measurement errors. Microsoft shares were rising 2%.
Apple (AAPL) has agreed to adopt a set of voluntary AI safeguards crafted by the Biden administration, media reports said Friday. The tech giant's shares added 0.2%.
Rumble (RUM) shares added 1.3% after the company said Friday it has launched its new Xbox app, which enables 24/7 streaming of live and on-demand content.
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