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US stock futures climbed on Wednesday as strong results from CoreWeave sparked a global tech recovery. Nasdaq-100 futures rose 1.9%, S&P 500 futures gained 0.9% and Dow futures added 76 points. CoreWeave jumped 13% before the open after beating third-quarter revenue forecasts and raising its 2026 revenue and operating income outlook. Nvidia rose 5%, bouncing back after losing nearly 10% earlier in the week over CEO Jensen Huang’s affair with an alleged Chinese spy. The rally spread worldwide. South Korea’s Kospi closed 2.6% higher, led by SK Hynix and Samsung, while Infineon gained 6.3% and ASML rose about 3% in Europe. Rate fears remain. Tuesday’s October CPI rose 0.4% month on month, above expectations, lifting odds of a December Fed rate hike to about 90%. US bond markets are closed for Veterans Day.

SpaceX shares rose 3.36% in premarket trading on Wednesday to $147.90, up $4.81 from the previous close of $143.09, adding to a recovery that began after NASA picked the company for its lunar cargo programme. The stock jumped about 6% on Monday after SpaceX was named one of eight firms eligible to compete for up to $10 billion in moon delivery missions over ten years under CLPS 2. Even if SpaceX won the full amount, it would earn about $1 billion a year, less than the roughly $1.12 billion it made in an average week of the third quarter. Elon Musk said government work will make up less than 10% of revenue this quarter, down from 16.6%, as AI computing and Starlink drive growth. Rocket Lab also rallied despite missing out. The stock is now well above its $135 IPO price, with Starship’s November 13 flight the next key test.

Nvidia shares climbed 4.69% in premarket trading on Wednesday to $176.81, recovering part of a two-day drop that included a 5.47% fall on Tuesday to $168.89 and a 4.3% slide on Monday. The bounce comes as investors try to judge how far the fallout from CEO Jensen Huang’s affair with an alleged Chinese spy could spread. Bank of America’s Vivek Arya laid out three scenarios: a contained impact with Huang staying on, a drawn-out period of uncertainty weighing on the stock before earnings, or a worse outcome involving adverse findings, leadership changes or tighter US restrictions. Morgan Stanley removed Nvidia from its top picks list after the stock fell more than 25% since its October 2 inclusion, calling Huang’s leadership crucial. Zacks’ John Blank warned the affair is bad news for the wider AI trade. Nvidia reports earnings on November 17.

Nvidia CEO Jensen Huang was back at the company’s Santa Clara headquarters on Monday, a day after admitting to an extramarital affair, and led his usual morning meeting with senior executives, people familiar with the matter told CNBC. Huang opened by apologising to his team but took no questions before moving straight to the day’s business. He was in the office again on Tuesday, a week before Nvidia reports quarterly earnings on November 17. Employees described the mood inside the company as sad. Many long-serving staff had seen Huang as a near-flawless leader and are struggling with the news, the people said. Nvidia’s board has hired law firm Wachtell, Lipton, Rosen & Katz to lead its investigation into his relationship with former Megaspeed executive Alice Huang. Nvidia shares rose about 3% on Tuesday.

Alibaba plans to spin off its semiconductor arm T-Head through a public listing in Hong Kong, after the city’s stock exchange cleared the move. The offering still needs final approval from the Hong Kong exchange and the China Securities Regulatory Commission, and Alibaba has not given a date or deal size. The company said it filed confidentially for the listing on September 11. T-Head develops AI chips meant to reduce China’s reliance on Nvidia amid tighter US export curbs. In September, Alibaba unveiled its Zhenwu V900 chip, which it said is three times more powerful than the Zhenwu M890 released in May. Alibaba’s Hong Kong shares fell 1% on Wednesday and are down about 29% this year. Other Chinese chip listings have stalled, with Baidu reportedly delaying its Kunlunxin IPO and memory maker YMTC putting its plans on hold.