Nasdaq jumps 1.6% as CoreWeave results ease AI demand worries

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Nasdaq jumps 1.6% as CoreWeave results ease AI demand worries

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Nasdaq

The Nasdaq Composite rebounded at Wednesday's open as CoreWeave's results eased worries over AI infrastructure demand. The rally came despite rising pressure on interest rates after the October CPI report.

The Nasdaq Composite jumped 1.6% at Wednesday's open, leading a broad rebound in technology stocks after a rough start to the week. The S&P 500 climbed 1%, while the Dow added 45 points.

CoreWeave drove much of the move, surging 13% after its third-quarter revenue topped forecasts and it raised its 2026 revenue and operating income outlook. As a result, worries over AI infrastructure demand that had weighed on tech stocks since the midterms eased.

Nvidia rose 5%, recovering part of a a nearly 10% slide earlier in the week tied to CEO Jensen Huang's affair with an alleged Chinese spy.

However, the rally arrived despite rising rate pressure. October CPI rose 0.4% month on month, pushing odds of a December Fed rate hike to about 90%.

Goldman Sachs' David Mericle now expects another increase in March.

Source: Coinpedia Fintech News

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