The technology sector saw an increase in stock prices on Tuesday, with the XLK and XSD funds rising slightly. The Philadelphia Semiconductor Index also showed positive growth.

In exciting corporate updates, Beamr Imaging experienced a significant jump in shares following its announcement of a new video optimization application for 5G video streaming. Laser Photonics shares also surged after securing an order for its innovative marking and engraving system.

Google's Alphabet revealed partnerships with various companies to expand the capabilities of its generative artificial intelligence technology. Best Buy and Accenture will utilize Google Cloud's features for their customer services.

Meanwhile, Intel introduced its Gaudi 3 AI accelerator during an event, enhancing AI systems with a large number of accelerators connected via ethernet. Share prices across the sector showed positive movements as a result of these developments.