Sector Update: Tech Stocks Rise Late Afternoon

03:55 PM EDT, 09/29/2026 (MT Newswires) -- Tech stocks were up late Tuesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) slightly higher and the State Street SPDR S&P Semiconductor ETF (XSD) rising 0.4%. The Philadelphia Semiconductor index advanced 1.3%. In sector news, smart ring maker Oura delayed its planned initial public offering, joining a growing list of companies that are postponing plans to go public in the US amid market uncertainty. In corporate news, Amazon.com-backed (AMZN) Anthropic disclosed agreements with SpaceX's (SPCX) xAI unit that could result in up to $84.5 billion in spending on Nvidia-based (NVDA) computing capacity through 2029, Reuters reported, citing the company's confidential IPO prospectus. Amazon shares were up 0.3%, SpaceX rose 3.1%, and Nvidia was down 0.4%. OpenAI is looking to raise at least $30 billion from a new round of funding, Bloomberg reported. The company is targeting a valuation of around $1.4 trillion, not including the money raised, the report said. Separately, OpenAI's annual recurring revenue is nearing $70 billion, as enterprise sales more than doubled since July, Axios reported. Microsoft shares were up 0.3%. New Apple (AAPL) Chief Executive John Ternus has discussed plans internally to accelerate product development, broaden its range of devices and create a leaner organization with a greater focus on engineering, Bloomberg reported. Apple shares fell 2.7%. Nokia (NOK) shares gained 2.6% after the company said Zain KSA deployed its Deepfield Cloud Intelligence platform across its network in over 100 cities in Saudi Arabia.