Tech stocks rose late Friday afternoon, with the Technology Select Sector SPDR Fund (XLK) up 0.4% and the SPDR S&P Semiconductor ETF (XSD) 1.7% higher.

The Philadelphia Semiconductor index popped 3.5%.

In corporate news, WISeKey (WKEY) shares soared 136% after the firm said its WISeSat.Space subsidiary plans to launch satellites in partnership with SpaceX on Jan. 14 from California's Vandenberg Space Force Base.

TaskUs (TASK) shares jumped 15% after Morgan Stanley upgraded the stock to overweight from equalweight and raised its price target to $21 from $18.

Broadcom (AVGO) shares surged 24%. The company reported fiscal Q4 non-GAAP net income late Thursday of $1.42 per share, exceeding the $1.39 consensus estimate of analysts surveyed by FactSet. Separately, Morgan Stanley said in a report Broadcom continues to be "one of the most compelling ways" to play AI semiconductors over the next two to three years.

NetClass Technology (NTCL) shares were rising 4% in their trading debut on Nasdaq after the firm priced 1.8 million class A shares at $5 per share in its IPO.