Wall Street AI stocks rebound as Coreweave earnings ease debt fears

Wall Street stocks rallied sharply on Wednesday as strong quarterly results from cloud provider Coreweave eased investor fears that AI profits would not arrive quickly enough to cover infrastructure debt costs. Coreweave shares surged 25 percent to $60.77 after the company reported third-quarter earnings late Tuesday. Nvidia rose 3 percent, Nebius gained 15 percent, and Micron Technology climbed 13 percent. The Dow Jones Industrial Average rose 0.49 percent, the S&P 500 gained 1.31 percent, and the Nasdaq Composite advanced 1.60 percent. Investors had doubted Coreweave's business model of buying Nvidia chips and renting them to AI firms, especially after rising Treasury yields made its growth plans costly. Company executives said customer prepayments would keep debt under control. Oil futures rose 0.6 percent, while gold fell 0.7 percent as the dollar hit a one-year high.