Futures Rise As CoreWeave Calms Debt Jitters, Sparking AI Rebound; Oil Jumps On Hormuz Mines

US futures are higher as a trifecta of AI catalysts, i) CoreWeave's beat-and-raise, ii) reports that Anthropic's bankers are weighing an IPO valuation of $1.5 trillion or more and iii) word that OpenAI's quarterly revenue hit $10 billion for the first time, revived the battered tech trade and helped markets shrug off Tuesday's hot CPI hangover, even as oil rebounded after Iran's IRGC claimed two tankers hit mines in the Strait of Hormuz; as a result Nasdaq futures have more than recouped Tuesday's losses while cash Treasuries, closed for Veterans Day, sit just shy of 5% on the 10Y. As of 8:15 am ET, S&P futures are up 0.9% while Nasdaq 100 futures rise 1.8% and Dow futures are up 0.2%. On Tuesday the S&P 500 recovered from its session low to close down just 0.4% at 7,521 after the hotter than expected CPI print and hawkish Fedspeak; without Nvidia and Microsoft it would have finished in the green. Premarket, semis are surging, with SOXX up 5.2% and DRAM up 8%, Nvidia is up 5.1% and the Mag 7 are mostly higher; CoreWeave jumps 13% after boosting its annual revenue forecast and easing fears about its debt-laden business (some of which we flagged last night), pushing Nebius and Marvell higher with it. The day's driver is AI (again): with hedge funds having cut risk at the steepest pace in more than a decade, positioning, not macro, is doing the heavy lifting for the tape, per Goldman's Rich Privorotsky. With the cash bond market shut, 10Y TSY futures are down about 6 ticks, indicating yields back over 5%, as Fed hike bets grow: a December 25bp hike is fully priced with some odds of 50bps, and Goldman added a third hike for March. The dollar i