Tech stocks lifts the US markets higher on Wednesday; Nvidia, Micron, Intel surge up to 7%

The US staged a smart recovery on Wednesday as investors turned to bargain hunting in the AI stocks after a recent correction. The NASDAQ 100 surged the most among the benchmark indices, as AI recouped the majority of the losses made in the last week.

Investors shrugged off the worries of higher-than-expected inflation as it raised the bets for an imminent rate hike in the coming policy decision. CME’s Fedwatch tool now predicts a 90% chance of a 25bps rate hike in the December policy meeting. The current interest rate stands at 3.75% to 4.00%, and market experts believe the December policy could raise rates to 4.00% to 4.25%.

Meanwhile, the AI stocks cheered the results from the cloud computing software firm CoreWeave Inc. The company’s Q3 revenue jumped 168% YoY to $3.66 billion, beating the street estimates, while the net loss widened to $709 million. However, the company raised its 2026 revenue and capex forecasts, citing AI demand. Shrugging off the worries of widening losses, investors were optimistic about the improved guidance. Consequently, the shares jumped 15% on Wednesday.

Besides this, the AI stocks also turned buoyant ahead of Anthropic’s $65 billion IPO. The AI platform, which operates through Claude, will raise $65 billion at a $1.45 trillion valuation. The price band is fixed at $70 to $78 per share.

Owing to a robust outlook by CoreWeave and optimism around Anthropic's IPO, the chip stocks recovered the majority of the losses made during last week’s fall. The Philadelphia Semiconductor index surged over 3.8%, recouping 10% in this week, against the previous week’s 12% fall.

Among the major stocks, Micron Technology (+7%), Intel Corporation (+5.9%), Marvell Technology (+5.8%), Broadcom (+5.6%), and NVIDIA (+2%) were the key gainers.

Among the megacap stocks, Apple Inc. (+1.4%), Alphabet Inc. (+0.9%), and Tesla (+2.3%), were among the key winners on Wednesday. Similarly, Microsoft Corporation again slipped to the third spot on Wednesday by falling nearly 1%, and Nvidia clinched the second spot as the most valuable company at $4.93 trillion, before Apple Inc. at $5.73 trillion.

The geopolitical concerns further abated on Wednesday after Saudi Arabia increased its production in October to the highest level since the war began in February 2026. The OPEC+ also increased production by $2.04 million barrels per day to $41. Million barrels per day, according to sources .