Tech stocks are set to open higher on Wednesday, lifted by strong earnings from cloud provider CoreWeave. The company reported results that beat analyst expectations.
CoreWeave has been a focal point for investor anxiety over artificial intelligence spending. Its performance is seen as a gauge for the broader AI trade.
The positive report eased concerns about slowing demand for AI infrastructure. Shares of other tech companies rose in premarket trading following the release.
Futures tied to the Nasdaq pointed to a higher open. The Dow and S&P 500 also traded slightly up ahead of the bell.
CoreWeave provides cloud computing services tailored for AI workloads. Its customers include major AI developers and enterprises.
Investors have watched the company closely for signs of stability in the AI sector. Recent volatility has centered on whether spending can sustain its rapid pace.
Trading is expected to remain active as markets digest the results and look for further guidance.
