Shares of technology companies rose as a dizzying rally in some of the largest companies in the sector continued, drawing more small-scale speculators.

Shares of Apple, which instituted a four-for-one stock split on Friday, rose by more than 3% to $129. Shares of electric-car maker Tesla rose even more sharply, adding more than 12% to trade around $500 after its five-for-one stock split.

China late on Friday issued new restrictions on the export of artificial-intelligence technology that forced ByteDance, TikTok's parent, to slow down talks with companies including Microsoft, Walmart and Oracle for the American operations of the social-media app, The Wall Street Journal reported.

Shares of Workhorse Group rose after the electric van and drone maker announced strategic agreements with Hitachi America and Hitachi Capital America to assess Workhorse's manufacturing and supply chain capabilities, in a move that could lead to Workhorse dealerships.

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