AI-linked stocks led a market recovery, with the NASDAQ 100 climbing to a one-week high as CoreWeave shares jumped nearly 25% following a positive earnings report and reaffirmed data centre expansion plans.
Third-quarter revenue beat forecasts and the company raised its 2026 revenue and operating income guidance, sending the stock up nearly 25%. CEO Intrator also told CNBC that data centre build plans are not delayed, directly rebutting the worry that started the November 5 selling.
AI-heavy names are recovering the sell-off that began November 5, with the index touching just under 28,600, a one-week high, and above its session start. CoreWeave's beat and raised guidance plus an oversubscribed Anthropic IPO add demand for the index's largest weights. Only about a third of the October 6 to November 5 decline (31,350 to 26,600) has been retraced, so the recovery is partial.
The index sits just above 7,600 and has won back about four fifths of the fall that began November 5, supported by the same AI rebound. It has also recovered more than half of its drop from just below 7,850. Near-certain December rate-hike pricing and upcoming PPI data could cap the move.
The stock is up 2.9% after losing nearly 10% over Monday and Tuesday, showing demand despite two overhangs: Morgan Stanley dropped it as a top pick on Wednesday and the House China panel gave CEO Huang until the end of the business day to respond. The broader AI rebound supports the recovery.
The Dow, near 52,500, has regained about three fifths of the fall that began November 5. It did not participate in the October AI-driven decline, having climbed from near 50,500 on October 1 to just under 53,800 on November 5, and remains about 1,300 points under that high, so the AI rebound benefits it less.
The NASDAQ 100 reached a one-week high near 28,400 as AI-heavy stocks rebounded from the November 5 sell-off. CoreWeave shares surged nearly 25% after the company beat third-quarter revenue forecasts and raised its 2026 guidance, while an oversubscribed Anthropic IPO further bolstered investor sentiment.
Third-quarter revenue beat forecasts, the company raised its 2026 revenue and operating income guidance, and its CEO said data centre build plans are not delayed.
The stock was up nearly 25%.
AI stocks are rebounding: CoreWeave beat forecasts and raised guidance, its CEO said data centre plans are not delayed, and an oversubscribed Anthropic IPO is drawing demand to AI-heavy names.
More than a third of the fall from the October 6 high near 31,350 to the November 5 low near 26,600.
About four fifths of the fall that began November 5, trading just above 7,600.
Yes, it is up 2.9% after losing nearly 10% over Monday and Tuesday, even though Morgan Stanley removed it as a top pick and a House China panel demanded a response from CEO Huang.
No. It has won back about three fifths of the fall that began November 5, versus roughly four fifths for the S&P 500 and more for the AI-heavy NASDAQ 100.