Wall Street gains as CoreWeave calms AI jitters

CoreWeave's shares jumped 25.3% to a near two-week high after the battered company said it would become profitable in the first half of 2028, on an adjusted basis, as it sought to reassure investors that strong demand and customer commitments could support its debt-fueled expansion.

The results boosted sentiment across AI infrastructure stocks, with Nebius Group and Applied Digital rising 17.4% and 8.6%, respectively. Nvidia rose 3.8% after shedding about $430 billion in the previous two sessions as questions about CEO Jensen Huang's relationship with a businesswoman alleged to be a Chinese spy roiled markets.

The Philadelphia SE Semiconductor index jumped 7% to a one-week high, with Marvell Technology and Micron up 12.2% and 13.3%, respectively.

Equities have whipsawed this week, with concerns over slower data center deployment, higher interest rates and Nvidia's troubles pitted against the appetite to buy the dip.

Investors bought equities during last week's selloff, with all net inflows coming through ETFs and institutional clients leading the purchases, Bank of America Global Research analysts said in a note.

At 11.44 am ET, the Dow Jones Industrial Average rose 51.98 points, or 0.10%, to 52,283.87, the S&P 500 gained 93.80 points, or 1.25%, to 7,614.73, and the Nasdaq Composite added 463.99 points, or 1.85%, to 25,529.87.