United States stocks rose on Wednesday as investors bought the dip following strong earnings from the AI cloud provider CoreWeave, easing immediate concerns about the debt taken on by artificial intelligence companies and sparking a broader rebound in technology shares.
The Nasdaq Composite rose 1.6 per cent, the S&P 500 climbed 1.3 per cent and the Dow Jones Industrial Average gained 0.5 per cent. In Europe, the STOXX 600 index closed at a record high of 663.05 points, up 0.7 per cent, while Britain’s market rose 0.8 per cent and Japan gained 1.3 per cent.
CoreWeave was the day’s standout, surging by more than 20 per cent after the company reported third-quarter revenue of $3.66 billion, ahead of the $3.56 billion analysts had expected, and raised its full-year revenue forecast to between $13.0 billion and $13.3 billion, up from $12 billion to $13 billion. The result calmed fears about the company’s debt-laden balance sheet, which had weighed on the shares in recent weeks.
The rally spread quickly through the AI trade. Nvidia rose 2.9 per cent, even after the broker Baird downgraded the stock to neutral from outperform, and semiconductor shares rose 5.6 per cent as a group. Sandisk climbed 14 per cent, Micron and Dell each gained about 12 per cent, and fellow neocloud firm Nebius rose more than 15 per cent ahead of its own results.
Other stocks moved on their own news. Teradyne climbed 8.3 per cent to $265.78 after Jefferies began coverage with a buy rating and a $284 price target, saying the company had shifted from mobile device testing to becoming a direct beneficiary of AI computing demand. Fraud-prevention firm Riskified surged 22 per cent after reporting third-quarter revenue of $115.2 million, up 41 per cent on a year earlier. Rigetti Computing, by contrast, fell 8.6 per cent.
The gains came despite lingering worries about interest rates. Federal Reserve Governor Chris Waller had put a 50-basis-point rate rise on the table for December, and markets now price a December increase as near-certain, with a quarter-point rise the most likely outcome at the Fed’s meeting on 8 and 9 December. The dollar hit a 19-month high on the prospect of higher American rates, and was nudging 160 yen, a level widely watched by traders.
There was also fresh evidence of the strength of AI demand. OpenAI’s quarterly revenue crossed $10 billion for the first time, according to reports, underlining how quickly spending on artificial intelligence is growing, even as investors ask harder questions about how much of that spending will turn into profit.
Trading was lighter than usual because the United States bond market was closed for Veterans Day, and there was no trading in cash Treasuries. European government bond yields were steady, while Japanese yields edged slightly higher. Oil rose about 1 per cent, and crude prices later recovered towards $90 a barrel as markets weighed hopes of de-escalation in the Iran conflict.
The rebound in American shares and the record close in Europe came after a difficult few weeks for markets, in which hot inflation data and the prospect of higher rates had knocked confidence. For now, at least, the strong earnings from CoreWeave have given investors a reason to buy again, and the focus will shift to Friday’s producer price data and to the run of Federal Reserve speakers due in the coming days.
Figures in this post were checked at 06:05 PKT on Thursday 12 November 2026.
This post is market news information only, not financial advice.
