U.S. Stock Market Rises on AI Optimism
CoreWeave raised revenue and spending forecasts as demand for Nvidia-powered AI infrastructure pushed its backlog to $104.2 billion, analysts said.
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5 Articles
CoreWeave results fuel AI optimism
The S&P 500 and the Nasdaq ended higher Wednesday, lifted by upbeat quarterly results from CoreWeave and other artificial intelligence infrastructure firms, while mild inflation data reinforced bets that the U.S. Federal Reserve will hold interest rates steady in September.
S&P 500 ends higher as CoreWeave fuels AI optimism
The S&P 500 and the Nasdaq ended higher Wednesday, lifted by upbeat quarterly results from CoreWeave and other artificial intelligence infrastructure firms, while mild inflation data reinforced bets that the U.S. Federal Reserve will hold interest rates steady in September.
Optimism is spreading again in a market that had been weighed down by concerns over excessive investment in artificial intelligence (AI). This is driven by a simultaneous surge in revenue and orders for cloud providers specializing in renting Graphics Processing Units (GPUs) necessary for AI training and computation, as well as for AI server manufacturers. This is being interpreted as confirmation that the demand for AI infrastructure remains ro…
U.S. stock market rises on AI optimism
The S&P 500 jumped 0.26% to end the session at 7,748.50 points, the Nasdaq added 0.54% to 26,588.49 points for the session, while the Dow Jones Industrial Average added 0.04% to 53,770.27 points The S&P 500 and the Nasdaq closed higher on Wednesday, lifted by upbeat quarterly results from CoreWeave and other AI infrastructure firms, while mild inflation data reinforced bets that the U.S. central bank will hold interest rates steady in Septemb…
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