01:58 PM EDT, 08/19/2024 (MT Newswires) -- 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.