Tech stocks rose late Thursday afternoon with the Technology Select Sector SPDR Fund (XLK) advancing 1.3% and the SPDR S&P Semiconductor ETF (XSD) climbing 1.4%.

The Philadelphia Semiconductor index rose 1.1%.

In corporate news, Meta (META) has become one of Arm's (ARM) first clients as the SoftBank-owned company plans to launch its own chip this year, the Financial Times reported. Meta shares rose 0.3%, and Arm jumped 5.3%.

Trade Desk (TTD) shares dropped 32%, a day after the company posted a Q4 revenue miss and issued Q1 sales guidance that trailed estimates.

Alpha Modus Holdings (AMOD) shares surged 89% after the company's partner CashX started the deployment of financial kiosks in supermarkets.

AppLovin (APP) shares spiked past 23%, a day after the company posted higher Q4 net income and revenue and issued Q1 sales guidance above market expectations.