U.S. stock futures climbed early Wednesday as technology shares bounced back from a rocky start to the week, with strong quarterly results from AI cloud provider CoreWeave offering fresh evidence that demand for artificial intelligence computing remains robust. The rebound followed a rough stretch for chip and hardware stocks, which had sold off in recent sessions.

Investors had grown concerned that spending on AI infrastructure might be slowing. CoreWeave moved to dispel those worries, reporting that quarterly revenue grew 168% from a year earlier and that its backlog of orders reached $132.5 billion — a clear sign that customers are still buying AI computing power. Because backlog captures orders already booked for future delivery, the figure is closely watched as a measure of how much AI spending is locked in beyond any single quarter.

Futures Move Higher

Nasdaq 100 futures rose 1.9% in premarket trading. S&P 500 futures gained 0.9%, while Dow Jones Industrial Average futures added about 76 points, or 0.2%.

CoreWeave shares surged 13% after third-quarter revenue beat analyst expectations, and the company raised its 2026 guidance for both revenue and operating income. Investors moved back into semiconductor and hardware names on the news. The reaction underscored how closely markets are tracking AI infrastructure spending, with major reports from the sector scrutinized for any sign that the buildout is losing momentum.

The quarter's headline figures, highlighted by market data outlet Wall St Engine in a post on X, captured the size of the beat across nearly every major metric:

COREWEAVE $CRWV Q3'26 EARNINGS HIGHLIGHTS 🔹 Revenue: $3.66B (Est. $3.55B) 🟢; +168% YoY 🔹 Adj. Operating Income: $379M (Est. $234M) 🟢 🔹 Adj. EBITDA: $2.26B (Est. $2.04B) 🟢; +169% YoY 🔹 Adj. Net Loss: -$529M (Est. -$677M) 🟢 🔹 GAAP EPS: -$1.27 Raises FY26 Guide: 🔹… pic.twitter.com/BX7yImQRo7

— Wall St Engine (@wallstengine) November 10, 2026

Revenue came in at $3.66 billion, ahead of the $3.55 billion analysts had expected. Adjusted operating income reached $379 million against a $234 million estimate, while adjusted EBITDA of $2.26 billion was up 169% year over year and above the $2.04 billion consensus. CoreWeave posted an adjusted net loss of $529 million, smaller than the projected $677 million, along with a GAAP loss per share of $1.27.

Nvidia shares jumped 5% on Wednesday, rebounding after dropping nearly 10% at the start of the week in a sell-off that came after CEO Jensen Huang confirmed he had an affair with an alleged Chinese spy. That decline had weighed on the broader market on Tuesday.

The CoreWeave report also lifted markets abroad. South Korea's Kospi index closed 2.6% higher, with SK Hynix rising 5.36% and Samsung Electronics adding 3.57%. Japan's Nikkei 225 traded 0.85% higher and Australia's S&P/ASX 200 gained 0.23%, although Hong Kong's Hang Seng Index fell 0.66% and China's CSI 300 slipped 0.39%.

In Europe, chip names moved up as well. Infineon advanced 6.3% and ASMI rose 5.5%, STMicroelectronics gained 4%, and ASML rose about 3%. The pan-European Stoxx 600 was 0.29% higher, Germany's DAX rose 0.73%, France's CAC 40 added 0.39%, and the U.K. FTSE 100 gained 0.27%.

Inflation Data Still Weighs

Stocks ended lower on Tuesday after the latest inflation report added to concerns about the price outlook. The consumer price index rose 0.4% in October from September, exceeding the 0.3% increase analysts had expected and following the prior month's 0.6% rise.

Fed Governor Christopher Waller had previously warned that a core reading of 0.3% or higher would mean a 50-basis-point hike should be considered in December. He said a quarter-point move would risk the Fed's credibility on inflation. The exchange illustrates how directly Fed officials have tied the size of upcoming rate decisions to individual inflation prints.

Treasury yields rose after the report, with the 10-year yield moving close to 5.0%. According to the CME Group's FedWatch tool, the chance of a quarter-point hike in December rose to about 90%.

Rick Rieder, chief investment officer of global fixed income at BlackRock, said a December hike is the base case for his firm and for the market. The question now, he said, is how large the hike will be.

The U.S. bond market is closed on Wednesday for the Veterans Day holiday. Two more earnings reports and one additional inflation reading are due before the week is out: Applied Materials and Cisco Systems report on Thursday, and the Producer Price Index follows on Friday. Those releases will give investors the next set of readings on technology-sector spending and pipeline price pressures after a week in which both have moved markets.