Wall Street rises on AI optimism as Nvidia recovers

Wall Street closed higher Wednesday as renewed optimism about artificial intelligence boosted tech stocks, with Nvidia also beginning to recover. The Nasdaq rose 1.6 percent to 25,466.19 points, the Dow Jones gained 0.5 percent to 52,486.49 points, and the S&P 500 climbed 1.3 percent to 7,619.38 points. Nvidia, which had lost over $400 billion in market value over two days amid concerns about CEO Jensen Huang's alleged affair with a Chinese spy, rose 2.9 percent. Data center company CoreWeave, a major Nvidia customer, surged nearly 25 percent after reporting record quarterly revenue and raising its full-year outlook. Investors also welcomed OpenAI's third-quarter revenue of $10 billion, up about 50 percent, and strong demand for Anthropic's upcoming IPO. Other chipmakers like AMD, Intel, Micron, and Broadcom rose up to 11.9 percent, while data center firms Nebius, IREN, and Oracle gained up to 15.4 percent. Bond markets were closed for Veterans Day.