Shares of technology companies rose as upward momentum in artificial-intelligence stocks continued.

The SPDR Select Sector technology exchange-traded fund, which tracks the tech industry group of the S&P 500, is now up by more than 7% for the year to date, and is sitting at an all-time high.

Akamai Technologies and Fastly shares rose after analysts at brokerage Citi said it should be a strong year for Internet infrastructure firms that concentrate on content-delivery networks.

A decision by Google's cloud-computing unit to eliminate certain data fees highlights ongoing complexities of cloud pricing as businesses seek to cut tech costs. The move coincides with greater regulatory oversight of cloud competition, but may not go far enough to satisfy some critics.


Write to Rob Curran at rob.curran@dowjones.com

(END) Dow Jones Newswires

01-22-24 1746ET