Wall Street bounced back on Wednesday, November 11, 2026, as strong results from CoreWeave eased worries about spending on artificial intelligence and pulled chip stocks higher. The rebound came one day after a hotter than expected inflation report had knocked the market lower.
The S&P 500 rose 98.45 points, or 1.31 percent, to 7,619.38, the Nasdaq Composite climbed 400.31 points, or 1.60 percent, to 25,466.19, and the Dow Jones Industrial Average added 254.60 points, or 0.49 percent, to 52,486.49, the Associated Press reported. Reuters reported the same closes. The Dow recovered all of the ground it lost on Tuesday, and the S&P 500 ended the day within about 2.6 percent of its record high.
CoreWeave, which rents access to Nvidia chips over the cloud, was the spark. Its shares jumped 24.71 percent to $60.77, the best single day for the stock since April 2025, according to CNBC. Traders treated the report as a sign that AI spending is holding up, and that lifted the whole group.
What CoreWeave reported
CoreWeave reported third quarter revenue of $3.661 billion after the market closed on Tuesday, up 168 percent from $1.365 billion a year earlier and above the roughly $3.55 billion analysts expected, according to LSEG data cited by Reuters and CNBC. The company also raised its full year 2026 revenue forecast to between $13.0 billion and $13.3 billion, up from $12.4 billion to $13.2 billion.
The report still showed a net loss of $709 million, wider than the $110 million loss a year earlier, as interest costs on the debt funding its expansion rose. Traders focused instead on demand. CoreWeave said it expects about $9 billion in customer prepayments and deposits in the three months after its November 10 results, the Associated Press reported, and told Reuters it would not turn to unsecured debt markets at current yields. The company also said it expects adjusted profitability in the first half of 2028, Reuters reported.
For the full picture of the quarter, see our report on CoreWeave’s third quarter earnings.
Chips led the rebound
CoreWeave’s numbers lifted the whole AI hardware group. Micron rose 11.9 percent to $811.30, AMD gained 7.3 percent, Intel added 7.5 percent and Broadcom rose 4.0 percent, according to Yahoo Finance closing data. The Philadelphia Semiconductor Index gained 5.66 percent, CNBC reported.
Nvidia, the largest maker of AI chips, rose 2.87 percent to $173.73, recovering part of the ground it lost in the prior two sessions, when the stock fell almost 10 percent. The gain came even as Nvidia’s board continues its examination of chief executive Jensen Huang. Nvidia reports its own earnings on November 17, the next big test for the AI trade.
The rally also reversed Tuesday’s slide, when a hotter than expected October consumer price report pushed stocks down. Consumer prices rose 0.4 percent in October from September, against 0.3 percent expected, while core prices rose 0.3 percent. The S&P 500 fell 0.4 percent on Tuesday, the Dow lost 0.3 percent and the Nasdaq dropped 0.7 percent. Read our report on Tuesday’s hot inflation report and the market fall.
The bond market was closed on Wednesday for Veterans Day, so there was no fresh Treasury yield to set the tone for interest rates. Traders put the odds of a quarter point move at the Federal Reserve’s December meeting at roughly 90 percent, according to Sharecast.
What comes next
Attention now turns to whether the AI spending boom can keep its pace. Nvidia’s earnings on November 17 are the next checkpoint, and strong subscription demand for Anthropic’s planned public offering also supported sentiment on Wednesday, according to TradingKey. For now, one earnings report was enough to turn a losing week into a winning day, and the question for traders is whether the next reports can do the same.