US tech stocks rally on CoreWeave earnings, lifting Nasdaq and S&P 500

US equity markets closed higher on Wednesday, led by a surge in technology shares after cloud-computing firm CoreWeave reported robust third-quarter results and raised its 2026 revenue outlook. The Nasdaq added 1.6% to finish at 25,466, the S&P 500 rose 1.3% to 7,619, and the Dow Jones gained 0.5% to 52,486.

CoreWeave posted revenue of $3.66 billion, up 168% year-over-year, and lifted its full-year 2026 revenue guidance to $13-13.3 billion. The upbeat outlook eased concerns about the pace of AI infrastructure spending and sparked gains across related semiconductor stocks, with Nvidia, AMD, Micron and Broadcom all posting double-digit percentage increases.

"The rout in oil is over for now, but it looks like Trump has opted to leave the status quo intact in the region rather than go for either risky but potentially unproductive action or a deal that is bound to make him look weak," said Chris Beauchamp, chief market analyst at IG.

The rally helped reverse losses from the previous day, which had been triggered by hotter-than-expected inflation data and renewed worries about future interest-rate moves. Analysts noted that while appetite for AI-related equities remains strong, questions about valuations and capital-spending intensity persist.

In other market moves, small-cap stocks saw activity with TNR Gold agreeing to a $122 million takeover by Altius Minerals, and Trust Stamp securing U.S. patent protection for technology that verifies human consent in AI-initiated transactions. European markets also posted gains, with the FTSE 100 and Germany’s DAX both ending higher.

Overall, the data suggest renewed investor confidence in AI demand, even as broader macroeconomic uncertainties continue to influence market sentiment.