Sector Update: Tech Stocks Gain Late Afternoon

03:50 PM EDT, 10/27/2026 (MT Newswires) -- Tech stocks were higher late Tuesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) rising 1.7% and the State Street SPDR S&P Semiconductor ETF (XSD) climbing 4.5%. The Philadelphia Semiconductor index rose 3.5%. In corporate news, Super Micro Computer-backed (SMCI) cloud computing firm Argentum AI is in talks to secure a $5 billion loan from a major private credit firm to buy AI chips, Reuters reported. Super Micro Computer shares jumped past 7%. Broadcom (AVGO) shares rose 4.6% after Truist Securities said in a client note the company could generate up to $30 billion in sales by supplying AI equipment to Anthropic under a $63 billion financing arrangement announced Monday. Meta Platforms (META) drew orders for about five times the available shares in its upsized $25 billion stock sale that seeks to raise $98 billion for AI spending, Bloomberg reported Tuesday. Meta shares were down 1.5%. Meta and Nvidia (NVDA) are expanding their partnership to develop the social media giant's Muse family of AI models, and Nvidia is also planning to invest $3 billion in Meta's equity offering, Nvidia said Tuesday. Nvidia shares rose 1.1%.