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Chip Stocks Jump in Asia; Nasdaq Futures Up 2% on CoreWeave

Chips — Taiwan Jumps 3.6%, SK Hynix 5.4% and Nasdaq Futures 2% Despite a Fed Hike and the Nvidia Case

CoreWeave beat on revenue and raised its outlook; its shares are up 15% before the open, and Nvidia is up 4% after two days of losses. Wall Street closed lower on Tuesday after hot inflation data: S&P 500 −0.4%, 10-year yield at 4.98%. Markets price a December rate hike as all but certain. The US bond market is closed today for Veterans Day.

In this edition

AMD ASML SAP GE RSP XLK XLF XLE

The Morning 10 Wed, Nov 11, 2026 ~90 seconds 16:35 CET

The ten points

Update, 15:30 UTC, one hour into US trading: the S&P 500 is up 0.9% at 7,587.05 and the Nasdaq Composite 1.3%; the chip index SOX gains 4.9%. Micron is up 10.7%, CoreWeave 21.0%, Broadcom 5.4%, AMD 4.9% and Nvidia 3.1%. The edition below was written before the open, with prices as of about 12:55 UTC.

Chip stocks rose across Asia and Europe on Wednesday, and US futures point to a strong open, one day after a hot inflation report pushed Wall Street lower. Taiwan's TAIEX gained 3.6% and closed at its high, Korea's Kospi 2.6% and Japan's Nikkei 1.3%. Nasdaq 100 futures are up 2.0% and S&P 500 futures 0.9%.

The trigger is CoreWeave. The AI cloud company reported revenue of $3.66 billion, above its own guidance, and raised its outlook for the year (CNBC); its shares are up 15% before the open. That answers Tuesday's worry, when SoftBank's loss on power equipment raised doubts about data-center orders.

Two things have not changed. Markets still price a Fed rate hike in December as all but certain, with a chance of 11% to 15% that it is half a point. And Nvidia's board is still reviewing its chief executive; the stock is up 4% before the open after losing 9.5% in two days.

  1. Chips in Asia — Taiwan +3.6% at its high, Kospi +2.6%, Nikkei +1.3%
  2. Asia's AI Bellwethers — TSMC +4.8% and above its October close, SK Hynix +5.4%
  3. Europe — Infineon +8.3%, Siemens Energy +9.8% on record revenue, ASML +3.4%
  4. Wall Street on Tuesday — S&P 500 −0.4%, Nasdaq −0.7%, well off the lows
  5. CoreWeave — revenue up 168%, outlook raised, shares +15% before the open
  6. Nvidia — up 4% before the open after two days and −9.5%
  7. Rates — a December hike is all but certain; the 10-year yield closed at 4.98%
  8. Dollar, Gold, Oil, Bitcoin — the dollar rises again, gold steadies after −2.7%
  9. AI Indices — Rubin 100 rose 1.5% on Tuesday while US chips fell; 47% of last week's loss is back
  10. Today and This Week — bond holiday, four earnings-record grades, Cisco on Thursday

  1. Chips in Asia — Taiwan +3.6% at its high, Kospi +2.6%, Nikkei +1.3%

    Structure
    What
    Taiwan's TAIEX rose 3.62% to 44,257.15 and closed at the high of the day. Korea's Kospi opened 0.6% lower, turned and closed up 2.60% at 5,375.36. Japan's Nikkei gained 1.31% to 61,248.59. Markets with little chip exposure did not join: Hong Kong's Hang Seng fell 1.0% and Shanghai rose 0.5%; India's Nifty gained 0.8%.
    If
    US chip stocks give back their pre-market gains after the open. Asia would then have run ahead of New York.
    Why
    Asia trades the AI hardware names before New York opens. It rose although Wall Street had closed lower on Tuesday, because CoreWeave's results came after the US close (point 5).
    Then
    Of the loss of the week to 6 November Taiwan now has 83% back, Japan 65% and Korea 47%. Taiwan is 2.1% under its close of 30 October, Japan 3.2% and Korea 6.2%.

  2. Asia's AI Bellwethers — TSMC +4.8% and above its October close, SK Hynix +5.4%

    Structure
    What
    TSMC rose 4.81% to NT$2,395, the high of the day; its October revenue came in far above a year earlier (AP). SK Hynix closed up 5.36% at 1,277,000 won after a range of −1.6% to +6.4%, and Samsung Electronics gained 3.57%. In Tokyo Advantest rose 5.89%, Kioxia 5.55% and Tokyo Electron 2.95%. SoftBank, which had jumped 13.9% on Tuesday, opened 7.2% lower, fell as much as 10.5% and closed down only 0.44% at ¥3,855. Hon Hai was flat (+0.2%).
    If
    Memory keeps lagging. SK Hynix and Samsung still stand 9.9% and 8.4% under their closes of 30 October; without them the rebound stays a TSMC story.
    Why
    TSMC is the first of the large AI names to trade above its level from before the sell-off: it is 1.1% over its close of 30 October. SoftBank's swing shows how the market read its loss on power equipment: sold at the open, bought back within the day.
    Then
    SK Hynix has 51% of its loss of last week back and Samsung 48%; TSMC has all of it.
  3. The Print Record Beat histories against how the stock actually traded — one earnings name per day, all season. Open the Print Record →

  4. Europe — Infineon +8.3%, Siemens Energy +9.8% on record revenue, ASML +3.4%

    Structure
    What
    At about 12:40 UTC the Euro Stoxx 50 was up 0.7% and the DAX 0.75%. Infineon gained 8.3% to €53.13 on the day after its results. Siemens Energy rose 9.8% to €131.56: it reported record quarterly revenue and net income of €1.36 billion against €1.25 billion expected (CNBC). ASML was up 3.4%, ASM International 7.1% and BESI 5.7%. The power and cable names followed: Prysmian +4.0%, Nexans +3.4%, Schneider Electric +3.0% and ABB +2.8%. SAP slipped 0.5%.
    If
    Siemens Energy falls back under Tuesday's close of €119.84. It lost 3.4% that day with GE Vernova after SoftBank's loss; a return there would say the worry about power orders is back.
    Why
    Two European suppliers of power for data centers reported within 24 hours: Infineon forecast more than 20% growth, Siemens Energy beat. That speaks against reading SoftBank's loss as the start of a wider cut in orders.
    Then
    GE Vernova is up 5.8% and Vertiv 5.9% before the US open.

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