AI stocks rebound as Coreweave results and Anthropic IPO lift markets

AI-related shares recovered on Wednesday after strong results from Coreweave and reports of heavy investor demand for Anthropic’s planned flotation helped lift technology markets. The gains followed a sharp sell-off the previous week and came despite concerns about the borrowing needed to build data centres and scrutiny surrounding Nvidia.

Nasdaq 100 futures rose 1.5 per cent and S&P 500 futures gained 0.6 per cent, while Coreweave shares climbed about 14 per cent before the market opened. Coreweave’s third-quarter revenue rose 168 per cent to $3.66bn, and it raised its full-year forecast to $13bn-$13.3bn, though it had $35.6bn of debt at the end of June. Anthropic’s proposed share sale could raise $64.4bn at a valuation of about $1.4tn, with bankers reportedly considering a valuation of $1.5tn or more; Nvidia shares also rose about 5 per cent as the company said it had no reason to believe confidential information was compromised.