Sector Update: Tech Stocks Higher Monday Afternoon

MT Newswires Live08-20

Tech stocks were climbing in Monday afternoon trading, with the Technology Select Sector SPDR Fund (XLK) rising 0.8% and the SPDR S&P Semiconductor ETF (XSD) up 0.2%.

The Philadelphia Semiconductor index added 0.4%.

In corporate news, Advanced Micro Devices (AMD) said Monday it agreed to buy artificial intelligence infrastructure solutions company ZT Systems for roughly $4.9 billion. AMD shares gained 3%.

Planet Labs PBC (PL) shares jumped past 11% after it said Monday it has obtained a contract with the NATO Communications and Information Agency to provide satellite data.

CXApp (CXAI) shares rose 6% as it said Monday it has named Joy Mbanugo as chief financial officer.

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