Wall Street opened higher on Wednesday, 11 November, as technology shares rebounded following Tuesday’s sell-off, supported by strong results from CoreWeave and reports of substantial investor demand for Anthropic’s forthcoming initial public offering.
At the opening bell, the Nasdaq Composite climbed 385.17 points, or 1.54%, to 25,451.05, leading gains across the major US stock indices.
The S&P 500 advanced 73.02 points, or 0.97%, to 7,593.95, while the Dow Jones Industrial Average edged 27.13 points higher, or 0.05%, to 52,259.02.
The recovery followed renewed concerns about artificial intelligence valuations and persistent US inflation, which had placed technology shares under pressure during the previous session.
CoreWeave was among the strongest early performers, surging 14.09% to $55.60, after reporting stronger third-quarter results and raising its full-year financial guidance.
The AI cloud infrastructure provider reported quarterly revenue of $3.66 billion, compared with approximately $1.37 billion a year earlier, reflecting rapid growth in demand for computing capacity.
CoreWeave increased its 2026 revenue guidance to between $13 billion and $13.3 billion, while raising its adjusted operating income forecast to $1.275 billion–$1.375 billion.
The company also reported a substantial contracted revenue backlog of approximately $132.5 billion, reinforcing expectations of continued demand from artificial intelligence developers and major technology customers.
However, CoreWeave remains heavily capital-intensive, forecasting 2026 capital expenditure of $37 billion to $39 billion, with financing costs and infrastructure delivery remaining important considerations for investors.
Anthropic also provided a boost to sentiment following reports that demand for its upcoming IPO has significantly exceeded the shares available.
According to Bloomberg, citing people familiar with the process, the offering has attracted orders several times larger than the number of shares being offered, suggesting substantial institutional interest.
The developer of the Claude artificial intelligence models launched its IPO roadshow on 10 November, with shares expected to begin trading on Nasdaq on 19 November 2026, subject to completion of the offering.
The proposed flotation could become one of the largest in stock market history, although final pricing, investor allocations and the ultimate valuation remain subject to market conditions.
The reported demand helped ease concerns that investors were retreating from artificial intelligence companies following last week’s sharp market downturn.
Semiconductor stocks also participated in Wednesday’s recovery.
Nvidia gained 1.62% to $171.63 in early trading, recovering some ground after recent declines linked to scrutiny of Chief Executive Jensen Huang and wider concerns about AI investment.
Advanced Micro Devices rose 2.18% to $526.43, adding to the improvement across semiconductor and computing-related companies.
The gains suggest investors are continuing to distinguish between the longer-term demand for AI infrastructure and the risks associated with elevated valuations, financing requirements and potential regulatory changes.
US stock markets were operating normally despite the Veterans Day federal holiday, allowing investors to respond to the latest corporate announcements and economic developments.
Outside equities, gold rose 0.18% to $4,030.07 an ounce, recovering modestly after Tuesday’s decline.
The precious metal gained support from physical demand, although expectations of further Federal Reserve interest rate increases continued to influence sentiment.
Brent crude futures for January 2027 delivery climbed 1.37% to $92.74 a barrel, as reports of renewed attacks on oil tankers in the Strait of Hormuz raised concerns about possible supply disruptions.
The increase partly offset earlier optimism surrounding a potential de-escalation of the US-Iran conflict.
Wednesday’s technology-led rally marked a recovery in investor confidence following renewed volatility across artificial intelligence stocks, with CoreWeave’s stronger financial outlook and Anthropic’s reported IPO demand providing support.
However, the sustainability of the rebound will depend on whether company earnings and future revenues can justify the substantial investment being directed towards AI infrastructure.
The immediate focus will be whether the Nasdaq can maintain its early gains and whether the enthusiasm surrounding Anthropic’s proposed listing continues to support technology shares ahead of its expected market debut on 19 November.
