CoreWeave rips 20% as Nasdaq 100 jumps 2.28% and AI trade revives Wall Street

US stocks finished Wednesday's session higher, led by a tech rebound. The Nasdaq 100 surged 2.28%, the S&P 500 rose 1.31% and the Dow Jones gained 0.48%. CoreWeave was the standout, soaring 20% on the Nasdaq 100.

The rally built through the day on the back of a blowout third-quarter earnings report from CoreWeave, which traders had been waiting for since the prior evening. At the open, Nvidia added 2.78% and Lumentum jumped 11.30%, while CoreWeave was already up 17% a minute into trading. By early afternoon the Nasdaq 100's gain had stretched to 3%.

Wednesday's bounce came after a rough Tuesday, when hotter-than-expected inflation data knocked indexes down and sent government bond yields climbing, with the 10-year nearing 5%. The Dow fell 0.30% that session as Nvidia slid 5.47% and the Nasdaq 100 dropped 0.60%.

Across the Atlantic, the euro lost ground against the dollar, falling 0.67% and selling at 1.10884. Earlier in the day it touched its weakest level against the American currency since May 2025. The US bond market was closed Wednesday for Veterans Day.

Investors also kept one eye on the Middle East, where speculation grew that Iran and the US could launch direct negotiations aimed at ending the war.