Tech stocks gained Tuesday afternoon with the Technology Select Sector SPDR Fund (XLK) up 0.8% and the SPDR S&P Semiconductor ETF (XSD) adding 1.4%.
The Philadelphia Semiconductor index advanced 1.7%.
In corporate news, Smartsheet (SMAR) agreed to be acquired by Blackstone (BX) and Vista Equity Partners for $8.4 billion in cash. Smartsheet shares jumped 6.5% and Blackstone rose 0.1%.
EHang (EH) shares jumped 12% after the company said Tuesday it completed the first flight of its EH216-S, a pilotless electric vertical takeoff and landing aircraft, in Brazil.
Banzai (BNZI) shares soared 75% after it said Tuesday its lenders and service providers agreed to write off up to $5.6 million of outstanding debt and restructure $19.2 million of existing obligations.
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