CoreWeave Surges 24.7% as Wall Street Rallies on AI Relief
CoreWeave shares jumped 24.7% on Wednesday, November 11, 2026, helping the S&P 500 gain 1.31% and the Nasdaq 1.60%. A profit forecast for the first half of 2028 eased worries about AI spending, and Nvidia stabilized after two days of losses.
US stocks rallied on Wednesday, November 11, 2026, as CoreWeave shares surged 24.7% and the S&P 500 and Nasdaq each gained more than 1%.
The AI cloud firm's earnings eased investor fears about how long the artificial intelligence boom can last. Nvidia also steadied after two sessions of steep losses.
How the indexes closed
The Dow Jones Industrial Average rose 254.60 points, or 0.49%, to 52,486.49. The S&P 500 gained 98.45 points, or 1.31%, to 7,619.38. The Nasdaq Composite added 400.31 points, or 1.60%, to 25,466.19.
Technology led. The S&P 500 technology index rose 2.7%, the best of the 11 major sectors. The Philadelphia Semiconductor Index jumped 5.7% to its highest close since November 3, with every component advancing.
What lifted CoreWeave
CoreWeave, a so-called neocloud company that rents computing power for AI work, posted its biggest daily percentage jump in more than three months. It closed at its highest level in two weeks.
The company said it expects to turn profitable on an adjusted basis in the first half of 2028. It is trying to reassure investors that strong demand and customer commitments can support an expansion funded by debt. It also raised its revenue outlook.
Other AI infrastructure names followed. Nebius Group rose 15.4% and Applied Digital gained 7.4%. Micron Technology climbed 11.89%.
Nvidia and a shaky week
Nvidia advanced after losing about $430 billion in market value over the previous two sessions. Investors had worried about CEO Jensen Huang's relationship with a businesswoman alleged to be a Chinese spy.
Markets have swung hard in recent days. Investors have also fretted about tighter regulation of AI after sweeping Democratic wins in last week's US midterm elections.
"Everybody's looking for a canary in a coal mine every single day, every minute of every day, and then they're reacting every single day," said Thomas Martin, senior portfolio manager at Globalt in Atlanta.
Inflation and the Fed
Hotter-than-expected inflation data on Tuesday pushed Treasury yields sharply higher. Traders now fully price in a Federal Reserve rate increase of at least 25 basis points next month, according to CME FedWatch. A basis point is one-hundredth of a percentage point. The tool shows a 10.4% chance of a 50-basis-point hike.
The CBOE Volatility Index, Wall Street's fear gauge, fell for a fourth straight session to a one-week low of 17.49. Last week it hit its highest level in more than seven months.
Bank of America Global Research analysts said investors kept buying equities during last week's selloff, with net inflows coming through exchange-traded funds and led by institutional clients.
Anthropic IPO in focus
Investors also weighed the terms Anthropic announced on Tuesday for its initial public offering. The maker of the Claude chatbot is targeting a valuation of up to $1.4 trillion. Vanda Research said the offering could draw record retail purchases, possibly surpassing SpaceX as one of the biggest single-day retail buying events.
Nvidia's upcoming earnings will be a test of AI demand heading into 2027, Yahoo Finance noted. Bond trading also resumes after the Veterans Day holiday, with the 10-year Treasury yield having neared 5% beforehand.
