World stocks rise as CoreWeave revives the AI trade; Nvidia rebounds after losing $430 billion in two days

Global stocks rose on Wednesday, 11 November, as investors looked past expectations of further US rate hikes and returned to AI-linked shares after strong results from AI cloud firm CoreWeave, Reuters reported. The company said it would become profitable on an adjusted basis in the first half of 2028, easing worries about its debt-fuelled expansion; its shares rose about 16% in US premarket trading.

Across markets

Nasdaq 100 futures gained about 2% and S&P 500 futures nearly 1%. MSCI’s broadest Asia-Pacific index rose 1.5% for a third straight day, with South Korea up 2.6%, Taiwan up 3.6% and Japan’s Nikkei up 1.3%. The pan-European STOXX 600 traded near its August record high.

Nvidia rose about 3.7% before the bell after shedding roughly $430 billion in market value over two sessions; Reuters said CEO Jensen Huang is being investigated over reports he may have been the target of a foreign intelligence operation linked to an alleged Chinese spy. Chipmakers Marvell and Micron also rebounded.

Caution remains

Hotter-than-expected US inflation data kept a December Fed hike fully priced. The dollar firmed, gold rose 0.4% to about $4,049 an ounce, and Brent crude edged up to around $91.6 a barrel amid concerns about attacks on shipping in the Strait of Hormuz.