Wall Street rebounds as AI stocks recover from sell-off

U.S. stocks rebounded Wednesday, with the S&P 500 rising 1.3% to nearly recover all of last week's sell-off driven by AI industry slowdown fears, closing within 2.6% of its record high. CoreWeave, an AI chip rental company, surged 24.7% after reporting a smaller-than-expected summer loss and raising its revenue forecast, easing concerns about borrowing costs and industry profitability. Micron, Broadcom, and Nvidia also gained. The rebound followed Democratic midterm victories that raised regulatory worries, but CoreWeave's strong outlook helped offset those fears. Oil prices rose 1.4% to $92.76, while bond markets were closed for Veterans Day.