GE Vernova shares fell about 6% after SoftBank overhauled its equipment purchases for U.S. data centers, despite the company’s order book being booked through 2029-2030. JPMorgan said any delayed or canceled orders could be redirected to other customers, making the decline excessive. October consumer prices exceeded expectations, with headline inflation rising 0.4% year over year versus 0.3% forecast and core inflation increasing 0.3% versus 0.2% expected. Markets now fully price in a 25-basis-point Federal Reserve rate increase in December and assign a 12% probability to a 50-basis-point hike. CoreWeave’s earnings after the close and its comments on compute demand, financing conditions and the ability to build U.S. data centers could influence sentiment toward the AI trade.
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