The Nasdaq Composite rose 2.3% Wednesday afternoon as a sharp rally in CoreWeave and Nvidia lifted technology shares, while the S&P 500 and Dow Jones Industrial Average also traded higher.
The Nasdaq Composite stood at 25,641.18, up 575.30 points, in Nasdaq’s delayed quote stamped 1:28 p.m. ET on November 11. JBizNews retrieved that quote at 1:31 p.m. ET. This is the broad Composite index, not the separate Nasdaq-100.
CoreWeave climbed 26.72% to $61.75 and Nvidia gained 5.00% to $177.34 in Nasdaq stock quotes stamped 1:30 p.m. ET. The moves put AI infrastructure and chip stocks at the center of the afternoon advance.
The broader indexes were also positive in an earlier, separately timed market update: in its update stamped 12:58 p.m. ET, Yahoo Finance reported the S&P 500 up about 1.4% and the Dow up about 0.2%. Those percentages are not a simultaneous snapshot with the later Nasdaq quotes.
CoreWeave’s outlook lifts the AI trade
CoreWeave’s third-quarter earnings release showed revenue of $3.661 billion, up from $1.365 billion a year earlier. The AI cloud provider raised its full-year 2026 revenue forecast to $13.0 billion-$13.3 billion and said its revenue backlog reached approximately $132.5 billion at September 30.
The company also raised the lower end of its capital-spending forecast, now expecting $37 billion-$39 billion for 2026, compared with its previous $35 billion-$39 billion range. It said the change reflected plans to deploy infrastructure and deliver it to customers sooner than expected.
That growth comes with large financing costs. CoreWeave reported a third-quarter net loss of $709 million, compared with $110 million a year earlier, and projected fourth-quarter interest expense of $1.05 billion-$1.15 billion. The rally therefore reflects enthusiasm about demand and the outlook, not a return to net profitability.
Technology leads, but the rally is uneven
The much larger gain in the Nasdaq Composite than in the Dow shows how strongly technology stocks shaped the session. A rise in a major index does not mean every stock is advancing, and the afternoon gains could still change before the close.
This is a midday market update, separate from the opening report. All stock moves are intraday, not closing results.
JBizNews Desk | Wall Street
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