US stocks rise as CoreWeave earnings calm AI spending fears
US stocks rose Wednesday, with the S&P 500 and Nasdaq each gaining over 1%, as CoreWeave's earnings eased AI spending concerns and Nvidia stabilized after two days of sharp declines. CoreWeave shares surged over 20% after the company projected profitability by the first half of 2028, boosting other AI infrastructure stocks like Nebius Group and Applied Digital. Nvidia rose 3.8% following a $430 billion market value loss tied to CEO Jensen Huang's alleged relationship with a suspected Chinese spy. The Philadelphia SE Semiconductor index jumped 7%, while the CBOE Volatility Index fell for a fourth session. Investors also weighed Anthropic's IPO targeting a $1.4 trillion valuation, alongside expectations of a Federal Reserve rate hike next month following hot inflation data.