NEW YORK — A rebound for stocks in the artificial intelligence industry is lifting the U.S. market on Wednesday. The S&P 500 rose 1.6 percent and was on track for a third gain in four days since its wipeout last week on worries about a potential slowdown for AI-related businesses. The Nasdaq composite rallied 2.2 percent, but stocks outside of AI had more modest gains. The Dow Jones Industrial Average was up 243 points, or 0.5 percent, as of 1:38 p.m. Eastern time. Leading the way on Wall Street was one of the stocks at the center of the AI industry’s manic recent swings. CoreWeave, which rents out access to AI chips to customers over the cloud, leaped 26.5 percent after reporting a smaller loss for the latest quarter than analysts expected. It also made announcements that could allay some of the worries dogging it and the wider industry. For one, concerns are high about how CoreWeave and other companies will handle higher interest rates in the bond market, which make borrowing money more expensive. CoreWeave CEO Michael Intrator said his company has roughly $9 billion in customer pr
Rebounding AI stocks lift Wall Street
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- Rebounding AI stocks lift Wall Street
NEW YORK — A rebound for stocks in the artificial intelligence industry is lifting the U.S. market on Wednesday. The S&P 500 rose 1.6 percent and was on track for a third gain in four days since its wipeout last week on worries about a potential slowdown for AI-related businesses. The Nasdaq composite rallied 2.2 percent, but stocks outside of… Read more: Rebounding AI stocks lift Wall Street - Iran will not allow enriched nuclear material to leave the country, security chief saysDUBAI — Iran will not allow even a single particle of enriched nuclear material to leave the country and there will be consequences in the event of any new U.S. strikes on the Islamic Republic, Iranian security chief Mohsen Rezaei said in televised remarks. Rezaei was speaking to Lebanon’s pro-Iranian Al Mayadeen TV after U.S. officials downplayed the need for… Read more: Iran will not allow enriched nuclear material to leave the country, security chief says
- Iran president accuses US, Israel of causing environmental damage during warTEHRAN — Iranian President Masoud Pezeshkian accused the United States and Israel of inflicting severe environmental damage during attacks on the Islamic republic, in his speech on Wednesday at the UN Climate Change Conference in Turkey. “The recent criminal and illegal aggression against Iran by America and the Zionist regime… has inflicted severe damage on the environment, releasing massive quantities… Read more: Iran president accuses US, Israel of causing environmental damage during war
- S. Korean envoy reaffirms Seoul’s conditional approach to proposed Alaska LNG projectWASHINGTON — South Korea’s top envoy to the United States on Wednesday reaffirmed Seoul’s willingness to cooperate on a proposed Alaska liquefied natural gas (LNG) project while emphasizing commercial and legal conditions for participation. Ambassador Kang Kyung-wha made the remarks in an opinion piece published in the Washington Post, outlining progress in South Korea’s US$350 billion investment commitment to the… Read more: S. Korean envoy reaffirms Seoul’s conditional approach to proposed Alaska LNG project
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Latest Entertainment from Korea
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Learn People & History of Korea
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