Nasdaq Jumps About 2% at Midday as CoreWeave Results Spark AI Rebound; Nvidia Recovers, Dow Flat

The Nasdaq Composite and S&P 500 rose at midday on Wednesday, Nov. 11, 2026. Chip and AI infrastructure stocks rebounded after CoreWeave's quarterly results eased worries about AI spending, and Nvidia recovered part of its two-day slide. The Dow Jones Industrial Average hovered near the flat line. The stock market was open for Veterans Day, but the U.S. bond market was closed.

Where the indexes stood

Shortly before noon ET, the S&P 500 was up about 1.2% and the Nasdaq Composite about 1.9%, while the Dow was near unchanged, Yahoo Finance reported. The Nasdaq was quoted at 25,586.82, up 520.95 points or 2.08%, at 11:59 a.m. ET.

About half an hour earlier, the Economic Times live blog showed the Dow down 61.88 points, or 0.12%, at 52,170.01. The S&P 500 was up 75.95 points, or 1.01%, at 7,596.88, and the Nasdaq was up 389.20 points, or 1.55%, at 25,455.08. The S&P 500 moved above 7,600 at times during the morning.

The gains followed a down day on Tuesday. That day the S&P 500 fell 0.38%, the Nasdaq 0.74% and the Dow 0.30% after October consumer prices rose more than expected, Kitco News reported.

CoreWeave leads the AI rebound

CoreWeave shares rose as much as 24% after the AI cloud provider reported results late Tuesday. In its earnings release, the company said third-quarter revenue rose to $3.661 billion from $1.365 billion a year earlier. CNBC said that was a 168% increase and above the $3.55 billion analysts polled by LSEG had expected.

CoreWeave reported a net loss of $709 million and adjusted operating income of $379 million. Its revenue backlog stood at about $132.5 billion as of Sept. 30. The company raised its full-year 2026 revenue guidance to $13.0 billion to $13.3 billion. It also raised its adjusted operating income outlook to $1.275 billion to $1.375 billion, and it narrowed capital spending guidance to $37 billion to $39 billion.

"Demand for the infrastructure is and remains overwhelming," Chief Executive Michael Intrator told CNBC on Wednesday. He said CoreWeave was "10x oversubscribed" on its remaining 2027 capacity. According to the Economic Times, citing Reuters, the company said it expects to be profitable on an adjusted basis in the first half of 2028.

The results lifted other AI infrastructure names. Nebius rose more than 16%, Investor's Business Daily reported. Broadcom, Intel, Micron and Marvell gained about 6% each in morning trading, according to the Economic Times.

Nvidia recovers part of its losses

Nvidia rose about 5%, CNBC reported, after the stock lost about $430 billion in market value over the previous two sessions. That selloff followed reports about Chief Executive Jensen Huang's relationship with a businesswoman alleged to have worked for Chinese intelligence. Yahoo Finance said the stock was still down about 14% in November.

The rebound came despite a downgrade. Baird cut Nvidia to Neutral from Buy and lowered its price target to $200 from $500, citing risks from U.S. restrictions on chip sales to China and a possible slowdown in AI spending, the Economic Times reported.

Other movers and the Anthropic IPO

NextNav rose about 9% after its third-quarter revenue nearly doubled from a year earlier and its loss narrowed to 4 cents a share. Talen Energy gained nearly 5% in premarket trading after announcing a seven-year agreement to sell 750 megawatts of capacity to an investment-grade buyer, CNBC reported.

Anthropic's planned initial public offering also drew attention. Proactive Investors, citing Bloomberg, reported that orders exceeded the shares on offer several times over. It said the company launched its roadshow on Nov. 10 and its shares are expected to begin trading on Nasdaq on Nov. 19.

Rates backdrop

The 10-year Treasury yield briefly rose above 5% on Tuesday after the inflation data and hawkish comments from Fed officials, Yahoo Finance reported. Treasuries did not trade Wednesday because of the holiday. Traders put the odds of a quarter-point Fed rate increase in December at 87%, up from about 70% a month ago, according to CME's FedWatch tool as cited by Reuters.

Yahoo Finance described Wednesday as a quiet day for earnings and economic data. Weekly jobless claims are due Thursday, and the October producer price index is due Friday at 8:30 a.m. ET, according to Kitco News.