US stock market today: Nasdaq futures rally as CoreWeave earnings lift AI stocks

Résumé détaillé

Nasdaq futures surged 1.68% as CoreWeave shares jumped 15% in premarket trading following strong quarterly results. European semiconductor stocks also rallied, lifting global…

US stock futures advanced on Wednesday, November 11, led by a sharp rise in Nasdaq-100 futures, as upbeat quarterly results from artificial intelligence (AI) infrastructure company CoreWeave lifted investor sentiment towards technology stocks.

Nasdaq-100 futures climbed 1.6% in early trading, while S&P 500 futures gained 0.79%. Dow Jones Industrial Average futures largely remained flat at open.

The gains followed a weak session on Wall Street on Tuesday, when concerns surrounding Nvidia and stronger-than-expected US inflation data weighed on equities.

The Dow Jones Industrial Average fell more than 150 points during regular trading, while the S&P 500 and Nasdaq Composite declined 0.4% and 0.7%, respectively.

Nvidia was among the biggest drags on the market, with its shares falling 5.5% for a second consecutive session. Reports concerning CEO Jensen Huang and an alleged Chinese spy added to the pressure on the chipmaker's stock.

Nvidia's two-day decline brought its market capitalisation down to around $4.07 trillion, its lowest level since late March, CNBC reported.

Meanwhile, shares of CoreWeave surged around 15% in premarket trading on Wednesday after the AI-focused cloud computing company reported quarterly earnings that beat estimates and raised its full-year guidance, CNBC reported.

CEO Michael Intrator described the three months ended September 30 as a "breakout quarter", attributing the company's growth to multiple sources of funding, including financing backed by customer contracts.

The company also highlighted around $9 billion in customer prepayments and deposits as a key source of funding supporting its expansion.

Début de l'article, extrait de CNBC-TV18. Pour lire la suite, ouvrez l'article chez le média.