{"slug": "s-p-500-ends-higher-as-coreweave-results-fuel-ai-optimism", "title": "S&P 500 ends higher as CoreWeave results fuel AI optimism", "summary": "The S&P 500 rose 0.26% to 7,748.50 points on Wednesday, lifted by upbeat results from CoreWeave and other AI infrastructure firms, while mild inflation data reinforced bets the Federal Reserve will hold rates steady in September. CoreWeave surged 19% after raising its annual capital spending forecast and beating second-quarter estimates, and Super Micro Computer jumped 19% on a strong fiscal 2027 revenue forecast. The Nasdaq gained 0.54% to 26,588.49 points, while the Dow fell 0.04% to 53,770.27 points.", "body_md": "# S&P 500 ends higher as CoreWeave results fuel AI optimism\n\nMild inflation data reinforces bets that the US Federal Reserve will hold interest rates steady in September\n\n[SAN FRANCISCO] The S&P 500 and the Nasdaq ended higher on Wednesday (Aug 12), lifted by [upbeat quarterly results from CoreWeave](https://www.businesstimes.com.sg/companies-markets/nvidia-backed-coreweave-boosts-2026-spending-plan-beats-quarterly-estimates-ai-demand-surge) and other artificial intelligence infrastructure firms.\n\nThis was while mild inflation data reinforced bets that the US Federal Reserve will hold interest rates steady in September.\n\nUS consumer prices barely increased in July as the cost of petrol declined for a second straight month, while underlying inflation was benign, further reducing expectations of an interest rate hike from the Federal Reserve next month.\n\n“The numbers came in right in line. The market’s reaction is slightly positive because the market was fearful it was going to come in worse than it did. You’re seeing a market thinking that the Fed is not being pushed toward a rate hike,” said Robert Pavlik, senior portfolio manager at Dakota Wealth in Fairfield, Connecticut.\n\nCoreWeave surged 19 per cent after the AI cloud company lifted its annual capital spending forecast and topped second-quarter earnings estimates.\n\nData centre operators also rose, with Iren gaining almost 10 per cent and Applied Digital up 4.9 per cent.\n\nData centre company Nebius Group jumped 34 per cent, helped by second-quarter results that beat expectations.\n\nSuper Micro Computer [surged 19 per cent](https://www.businesstimes.com.sg/companies-markets/super-micro-forecasts-sales-us15-5-billion-topping-rosiest-projection) after the AI server maker forecast fiscal 2027 revenue above Wall Street expectations.\n\nChipmakers gained, with Nvidia rising 3 per cent and Micron Technology adding 4.9 per cent.\n\nThe PHLX Semiconductor Index advanced about 2.5 per cent. It remains down about 15 per cent from its record high close on Jun 22.\n\nThe S&P 500 climbed 0.26 per cent to end the session at 7,748.50 points. The benchmark is up about 13 per cent so far in 2026.\n\nThe Nasdaq gained 0.54 per cent to 26,588.49 points for the session, while the Dow Jones Industrial Average declined 0.04 per cent to 53,770.27 points.\n\nEight of the 11 S&P 500 sector indexes rose, led by real estate, up 1.08 per cent, followed by a 1.06 per cent gain in information technology.\n\nWall Street’s fear gauge, the Cboe Volatility Index, dipped 0.8 point to 14.45, its lowest level since January.\n\nTraders are now pricing in a 62 per cent chance of the Fed holding rates at its September meeting, according to CME’s FedWatch Tool.\n\nBefore the July inflation data was released, bets were split between a hike and no change.\n\nThe conflict between the US and Iran remained volatile as a senior Iranian source said there had been no progress in talks to revive the [interim deal reached in June](https://www.businesstimes.com.sg/international/focus-turns-strait-hormuz-after-us-and-iran-presidents-sign-ceasefire-agreement) and define a time frame to implement it, while shipping attacks continued.\n\nCava Group advanced 14.2 per cent after the restaurant chain beat Wall Street expectations for second-quarter sales and core profit.\n\nLumentum Holdings surged 13.6 per cent after the photonic product maker forecast first-quarter revenue above analysts’ expectations and beat fourth-quarter estimates.\n\nAcross the US stock market, advancing stocks outnumbered falling ones by a 1.7-to-one ratio.\n\nThe S&P 500 posted 19 new highs and two new lows; the Nasdaq recorded 123 new highs and 95 new lows.\n\nVolume on US exchanges was relatively light, with 15.5 billion shares traded, compared with an average of 17.5 billion shares over the previous 20 sessions. REUTERS\n\nDecoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.\n\nShare with us your feedback on BT's products and services\n\n[TRENDING NOW](/pulse?ref=trending-now)\n\nDBS COO’s most important tip for AI transformation: Lead with ‘why’\n\nVietnam seeks US$76 billion a year from capital markets to ease reliance on banks\n\nToo little, too late? Manila’s billion-dollar bid to ignite its sputtering EV industry\n\nTwo-thirds of Sentosa Cove resales in the red, with average loss topping S$1 million since 2023", "url": "https://wpnews.pro/news/s-p-500-ends-higher-as-coreweave-results-fuel-ai-optimism", "canonical_source": "https://www.businesstimes.com.sg/companies-markets/capital-markets-currencies/sp-500-ends-higher-coreweave-results-fuel-ai-optimism", "published_at": "2026-08-12 22:03:00+00:00", "updated_at": "2026-08-12 22:04:55.412701+00:00", "lang": "en", "topics": ["artificial-intelligence", "ai-infrastructure", "ai-chips", "ai-products"], "entities": ["CoreWeave", "Nvidia", "Super Micro Computer", "Micron Technology", "Applied Digital", "Nebius Group", "Iren", "Federal Reserve"], "alternates": {"html": "https://wpnews.pro/news/s-p-500-ends-higher-as-coreweave-results-fuel-ai-optimism", "markdown": "https://wpnews.pro/news/s-p-500-ends-higher-as-coreweave-results-fuel-ai-optimism.md", "text": "https://wpnews.pro/news/s-p-500-ends-higher-as-coreweave-results-fuel-ai-optimism.txt", "jsonld": "https://wpnews.pro/news/s-p-500-ends-higher-as-coreweave-results-fuel-ai-optimism.jsonld"}}