A fresh batch of earnings show the market's AI trade is still going strong

CoreWeave, Super Micro Computer, and Nebius shares surged by triple digits on Wednesday after reporting earnings that beat Wall Street expectations, with CoreWeave's revenue doubling year over year, reigniting optimism in the AI trade ahead of Nvidia's second-quarter results due August 26. Deutsche Bank managing director Jim Reid noted the earnings led to renewed optimism, while the July Consumer Price Index rose 0.1% and core rose 0.2%, leaving September rate cut odds at about 40%.

A fresh batch of earnings show the market's AI trade is still going strong Business Insider https://www.businessinsider.com The latest results from AI hardware makers come at a crucial time, as investors look for clues demand is strong ahead of Nvidia earnings in late August. - A flurry of strong earnings is reinvigorating AI bullishness on Wednesday. - CoreWeave, Super Micro, and Nebius jumped by triple digits after reporting results. - The reports come at a crucial time for the AI trade, as investors get ready for Nvidia /glossary/nvidia to report in late August. A trio of strong earnings is breathing life into the AI trade on Wednesday. CoreWeave https://markets.businessinsider.com/stocks/crwv-stock , SuperMicro Computer https://markets.businessinsider.com/stocks/smci-stock , and Nebius https://markets.businessinsider.com/stocks/nbis-stock logged triple-digit stock gains after the companies reported earnings that blew away Wall Street's expectations. CoreWeave reported revenue that doubled from the same period last year, while CoreWeave and Super Micro gave guidance that bolstered the outlook for strong demand for AI compute /glossary/compute and hardware in the quarters ahead. Other stocks in the AI ecosystem were also on the rise, with shares of hardware firms, memory companies, and chip makers rising. Dell https://markets.businessinsider.com/stocks/dell-stock , Micron Technology https://markets.businessinsider.com/stocks/mu-stock , Nvidia https://markets.businessinsider.com/stocks/nvda-stock , and Intel were among some of the high-profile gainers. "We've seen fresh equity gains overnight, as the latest earnings from CoreWeave and Super Micro Computer led to renewed optimism on the AI trade," wrote Deutsche Bank managing director Jim Reid. The bull earnings reports come at an important time for the market's hottest tech stocks. Hyperscaler earnings were a mixed bag, with investors punishing some companies for high AI spending, like Alphabet https://markets.businessinsider.com/stocks/googl-stock and Tesla https://markets.businessinsider.com/stocks/tsla-stock , and rewarding other big spenders like Microsoft https://markets.businessinsider.com/stocks/msft-stock . Investors are hoping that Wednesday's earnings lay the groundwork for a big report on the horizon from Nvidia, which is the final major AI update this earnings season. The chip titan will deliver second-quarter results on August 26. Also moving the market on Wednesday was the July Consumer Price Index report, which was in-line with expectations. Inflation cooled from 3.5% in June to 3.4% last month. The odds of a rate hike next month edged lower, but are still elevated at about 40%. "The July CPI report landed close enough to expectations that it did little to resolve the September rate debate. Headline CPI rose 0.1% and core rose 0.2%," said Jason Pride, chief of investment strategy and research at Glenmede. "Neither figure delivered the upside surprise that would have built a case for tightening nor the downside surprise that would have clearly argued for keeping policy unchanged." Here's where major indexes stood around 10:50 a.m. ET: : 7,747.26, up 0.25% S&P 500 : 53,786.15, down 0.01% -5.7 points Dow Jones Industrial Average • Nasdaq 100: https://markets.businessinsider.com/index/nasdaq 100 29,758.76, up 0.79% CoreWeave has battled high volatility in the past year, up 49% year to date but down about 29% in the last year. The company, which rents AI hardware and compute to companies, is backed by Nvidia https://markets.businessinsider.com/stocks/nvda-stock . Despite some concerns https://www.businessinsider.com/coreweave-stock-blue-owl-capital-data-center-financing-ai-crwv-2026-2 surrounding its ability to finance its data center expansions, the company has looked to soothe any concerns by maintaining https://www.businessinsider.com/coreweave-nvidia-gaurantee-data-center-leases-financing-2026-2 that the top chipmaker has its back. "CRWV's reported revenues were in-line, but its margins were better than expected and look to have inflected as they are forecasted to rise sequentially in 3Q and 4Q after about a 300 basis points QTQ increase in 2Q. This was the most important development in our view," stated Paul Meeks, head of technology research at Freedom Capital Markets. Neocloud company Nebius has had a stellar year of stock gains, up 180% in 2026 and up more than 200% in 12 months. The blistering rally has attracted attention https://www.businessinsider.com/big-short-michael-burry-oracle-nebius-ai-stocks-data-centers-2026-8 from short sellers, including Michael Burry of "The Big Short" fame and prominent retail trader Dimitri Semenikhin, who raised concerns https://www.businessinsider.com/short-squeeze-ai-stocks-amd-be-nbis-bynd-chips-hardware-2026-6 about its financing. Super Micro Computer stock has been the most volatile of the bunch, plunging in March following its cofounder's arrest https://www.businessinsider.com/super-micro-stock-price-plunges-china-nvidia-chip-sales-smci-2026-3 for an illegal chip smuggling ring. The stock is up 21% this year, and down about as much in 12 months. "The server maker's fiscal fourth-quarter earnings smashed Wall Street estimates on accelerating artificial-intelligence demand," stated Chris Versace, portfolio manager at TheStreet Pro. "That demand isn't expected to slow down soon." Business Insider https://www.businessinsider.com/coreweave-stock-price-earnings-nebius-nbis-ai-nvda-cpi-2026-8 Get AI news in your inbox Daily digest of what matters in AI.