Rebounding AI stocks lift Wall Street

NEW YORK (AP) — A rebound for stocks in the artificial-intelligence industry is lifting the U.S. market on Wednesday.The S&P 500 rose 0.9% and was on track for a third gain in four days since its wipeout last week on worries about a potential slowdown in the construction of AI data centers. The Nasdaq composite rallied 1.4%, but stocks outside of AI weren’t doing as well. The Dow Jones Industrial Average was down 56 points, or 0.1%, as of 9:35 a.m. Eastern time.One of the stocks at the center of the AI industry’s manic recent swings helped lead the way. CoreWeave, which rents out access to AI chips to customers over the cloud, leaped 10.7% after reporting a smaller loss for the latest quarter than analysts expected.It also made announcements that could allay some of the many 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.CoreWeav