US Today.zip Nov 11: CoreWeave Soars 25% as AI Rebound Lifts Stocks

U.S. Daily Brief
By BriefZip Editorial
US Today.zip briefing for November 11 2026

U.S. stocks bounced back on Wednesday, November 11, as artificial intelligence names led the market higher a day after a hotter-than-expected October inflation report. CoreWeave, a cloud company that rents out Nvidia chips to AI developers, jumped about 25% after its third-quarter results beat expectations, and Nvidia rebounded 2.9%. All three major indexes finished higher. At the same time, Chicago Fed President Austan Goolsbee called October's inflation data "borderline disturbing," lawmakers were reported to be pushing new chip export curbs, and demand for Anthropic's upcoming IPO was reported to be several times the shares on offer.

Cover card listing five stories: the AI rebound in stocks, Goolsbee on October inflation, Nvidia and chip export curbs, CoreWeave earnings, and Anthropic's IPO demand

Key numbers from the session:

- Nasdaq Composite: 25,466.19, up 1.60%

- S&P 500: 7,619.38, up 1.31%

- Dow Jones Industrial Average: 52,486.49, up 0.49%

- CoreWeave Q3 revenue: $3.66 billion, up 168%

- CoreWeave revenue backlog: $132.5 billion

- Anthropic IPO price range: $70 to $78 per share

Why did stocks rise on November 11?

Nasdaq up 1.60 percent, S&P 500 up 1.31 percent and Dow up 0.49 percent as CoreWeave and Nvidia led tech higher

The Nasdaq Composite closed at 25,466.19, up 1.60%. The S&P 500 rose 1.31% to 7,619.38, and the Dow Jones Industrial Average gained 254.60 points, or 0.49%, to 52,486.49. The bond market was closed for Veterans Day, so there were no new Treasury yield moves to react to.

Reports said technology stocks led the gains. CoreWeave rallied nearly 25% after its earnings report, and Nvidia climbed 2.9% after dropping nearly 10% over the first two sessions of the week.

A simple comparison shows how narrow the move was. The Nasdaq's gain was more than three times the Dow's, which suggests investors were rotating back into AI-related stocks rather than buying the whole market. The rebound came a day after October's consumer price index rose 0.4% month over month against a 0.3% forecast.

What did Goolsbee say about inflation?

Goolsbee calls October CPI borderline disturbing while Goldman Sachs now sees a March hike after December

Chicago Fed President Austan Goolsbee did not soften the message. "It's another distressing report, borderline disturbing," he said of the October inflation data in an interview. "We've got a real inflation issue on our hands that has been developing," he added, "and we're going to have to deal with that."

October was the third straight month of outsized price increases. Futures markets tracked by CME FedWatch put the odds of a quarter-point rate hike at the Fed's December meeting at about 90%. Goldman Sachs economist David Mericle went further, writing that he now expects another quarter-point hike in March after December. He said a January move was possible but that March looked a bit more likely.

For stock investors, this sets up an unusual combination: rising odds of tighter policy and a rally in growth stocks on the same day. That balance depends on whether coming data confirm or ease the inflation scare.

Why is Congress targeting AI chip exports?

Nvidia logo with a 2.9 percent rebound, three AI chip export bills reportedly aimed at the defense bill, and Baird's downgrade

Nvidia's rebound came against a difficult backdrop in Washington. Lawmakers from both parties are seeking to attach three AI chip export bills to the National Defense Authorization Act, the annual defense policy bill now moving through Congress, according to a media report. The proposals would restrict AI chip sales to adversary countries, tighten controls on chipmaking equipment that allies such as the Netherlands and Japan sell to China, and require tracking of where exported AI chips end up.

The push comes as Nvidia's board has hired an outside law firm to investigate CEO Jensen Huang, according to a report. Separately, Baird downgraded Nvidia to Neutral and cut its price target to $200 from $500.

One day of gains does not remove those risks, since export rules shape where Nvidia can sell its chips.

What did CoreWeave report?

CoreWeave logo with third quarter revenue of 3.66 billion dollars up 168 percent, a raised 2026 outlook and a 132.5 billion dollar backlog

CoreWeave reported third-quarter revenue of $3.66 billion, up 168% from $1.365 billion a year earlier and above the roughly $3.55 billion analysts expected. The company raised its 2026 revenue forecast to $13.0 billion to $13.3 billion from the $12.4 billion to $13.2 billion it gave in August, and lifted its adjusted operating income outlook to $1.275 billion to $1.375 billion.

Its revenue backlog, which counts revenue it expects to recognize under signed customer contracts, reached about $132.5 billion as of September 30, up from $104 billion at the end of June. Dividing that backlog by the top of this year's revenue range gives roughly 10 times, meaning the company has already contracted far more work than it can deliver in a single year.

There is another side to the numbers. CoreWeave posted a net loss of $709 million, wider than the $110 million loss a year earlier, as net interest expense rose to $846 million in the quarter. The company said it expects about $9 billion in customer prepayments and deposits over the next three months. Whether profits can grow faster than financing costs is the key question behind the 24.71% jump to $60.77.

How strong is demand for Anthropic's IPO?

Anthropic logo with reports of orders several times the offering, a 70 to 78 dollar range and TSMC approving up to 500 million dollars each for Anthropic and OpenAI

Anthropic, the maker of the Claude AI models, launched the roadshow for its IPO of 825 million Class A shares at an expected price of $70 to $78 each, and has applied to list on the Nasdaq under the symbol ANT. Citing people familiar with the matter, a report said orders have reached several times the number of shares on offer. Another report said a valuation above $1.5 trillion is under consideration.

Taiwan Semiconductor Manufacturing Co., the world's largest contract chipmaker, also stepped in. Its board approved investing up to $500 million in Anthropic shares at the IPO price and up to $500 million in OpenAI preferred stock. A chip supplier buying stakes in its own customers is another sign of how closely the AI industry's biggest players are now tied together.

What to watch next

Upcoming schedule in Korea time: Barr speech, October PPI, Bowman discussion, Jefferson speech and the October FOMC minutes

The October producer price index is due on Friday, November 13, at 8:30 a.m. Eastern time. After a hot consumer price report, investors will look for whether price pressure is also building at the wholesale level. Fed Governor Michael Barr speaks on Thursday, Vice Chair for Supervision Michelle Bowman and Vice Chair Philip Jefferson speak on Friday, and minutes from the October 27-28 FOMC meeting come out on Wednesday, November 18.

Glossary

- Revenue backlog: revenue a company expects to recognize in the future under contracts customers have already signed.

- National Defense Authorization Act: the yearly U.S. law that sets defense policy and spending, often used to carry other security measures.

- CME FedWatch: a tool that estimates the odds of Fed rate moves from interest rate futures prices.

Bottom line

AI stocks led a broad rebound after CoreWeave showed that demand for computing power remains strong, even as Fed officials warned about inflation and Washington moved toward tighter chip export rules. The producer price report and Anthropic's IPO pricing are the next tests for this rally.

Sources: CoreWeave third quarter 2026 results, TSMC board of directors meeting resolutions, Federal Reserve calendar

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