AI TRENDS | CoreWeave Outlook Lifts European Tech Stocks as AI Enthusiasm Revives

According to Jin10, European stocks rose toward record highs as broadly lower oil prices and renewed enthusiasm for AI trades lifted investor sentiment. Mining stocks led gains, supported by lower oil prices and a weaker dollar. Technology stocks also advanced after AI computing-services provider CoreWeave Inc. gave an upbeat business outlook and expectations grew for an initial public offering by Anthropic PBC. Siemens Energy rose 6.5% after the company said surging demand for gas turbines and grid equipment could lift its profit margin to as high as 22% by 2030. Growth in demand has already driven the company's profit to more than double last year. European stocks outperformed during market volatility over the past week. Since the U.S. midterm elections last Wednesday, the Euro Stoxx 600 has risen 2%, while the S&P 500 has fallen 0.6%. Cavendish Head of Equity Strategy Roger Lee said that some market skepticism about AI intensified after the midterm elections, prompting a partial reversal in capital flows and benefiting non-U.S. markets.