Wall Street gains as CoreWeave calms AI jitters

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The Economic Times daily newspaper is available online now. Read Today's Paper Wall Street gains as CoreWeave calms AI jittersReutersLast Updated: Nov 12, 2026, 07:22:00 AM ISTSynopsis

CoreWeave's strong earnings report alleviated investor worries regarding excessive spending in the AI sector. Following this, both the S&P 500 and Nasdaq saw gains exceeding 1%. Nvidia's stock also rebounded after a significant decline linked to troubling remarks about its CEO. Moreover, the Philadelphia SE Semiconductor index experienced a 7% jump, reflecting heightened investor optimism. Overall, market activity suggested a renewed interest in technology equities amid fluctuating economic concerns.

The S&P 500 and the tech-heavy Nasdaq climbed more than 1% on Wednesday after neocloud firm CoreWeave's solid earnings eased investor concerns about bloated AI expenditure, while Nvidia recovered some ground following a rout in the last two sessions.

CoreWeave's shares jumped 25.3% to a near two-week high after the battered company said it would become profitable in the first half of 2028, on an adjusted basis, as it sought to reassure investors that strong demand and customer commitments could support its debt-fueled expansion.

As on 12 Nov 2026, 02:30 AM IST

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The results boosted sentiment across AI infrastructure stocks, with Nebius Group and Applied Digital rising 17.4% and 8.6%, respectively. Nvidia rose 3.8% after shedding about $430 billion in the previous two sessions as questions about CEO Jensen Huang's relationship with a businesswoman alleged to be a Chinese spy roiled markets.

Read more: Anthropic’s IPO is said to be multiple times oversubscribed

The Philadelphia SE Semiconductor index jumped 7% to a one-week high, with Marvell Technology and Micron up 12.2% and 13.3%, respectively.

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Equities have whipsawed this week, with concerns over slower data center deployment, higher interest rates and Nvidia's troubles pitted against the appetite to buy the dip.

Read more: Goldman Sachs forecasts additional Fed rate hike in March after hotter US inflation data

Investors bought equities during last week's selloff, with all net inflows coming through ETFs and institutional clients leading the purchases, Bank of America Global Research analysts said in a note.

At 11.44 am ET, the Dow Jones Industrial Average rose 51.98 points, or 0.10%, to 52,283.87, the S&P 500 gained 93.80 points, or 1.25%, to 7,614.73, and the Nasdaq Composite added 463.99 points, or 1.85%, to 25,529.87.
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