US stocks rebound on AI gains; ASX set to slip

US stocks rebounded Wednesday as AI-related shares recovered, with the S&P 500 rising 1.3% and the Nasdaq gaining 1.6%, while Australian futures pointed to a 0.4% decline at Thursday's open. CoreWeave, an AI chip cloud provider, surged 24.7% after reporting smaller-than-expected losses and raising its revenue forecast, helping ease concerns about industry slowdowns and borrowing costs. Micron rose 11.9%, Broadcom gained 4%, and Nvidia climbed 2.9%. The rebound followed last week's sell-off triggered by Democratic midterm victories and worries about AI profitability. Oil prices rose 1.4% to $92.76 per barrel, while US bond markets were closed for Veterans Day.