European stocks near record high on Siemens, CoreWeave AI optimism
Executive Brief • Key Highlights
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- ✓Europe's STOXX 600 rose on Wednesday, nearing a record high after upbeat forecasts from Siemens Energy and CoreWeave boosted AI optimism.
- ✓While tech shares got a lift, inflation concerns and interest rate worries tempered the mood.
- ✓Thomas Romig said, "The current big uncertainty is will this entire AI-investment really be profitable?"
Story at a Glance
- Category
- Indian Markets
- Reported By
- Reuters
- Reading Speed
- 2 Minute(s)
- Market Focus
- India Economy
Nov 11 (Reuters) - Europe's benchmark STOXX 600 rose on Wednesday and was within touching distance of a record high, as upbeat forecasts from Siemens Energy and US-based CoreWeave bolstered confidence in the AI trade, while inflation concerns tempered optimism.
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Optimism around AI was especially boosted by neocloud company CoreWeave , which said it would become profitable on an adjusted basis in the first half of 2028. The company was at the centre of AI bubble fears that sparked a global market rout last week.
"The current big uncertainty is will this entire AI-investment really be profitable? And not all of the AI companies will be profitable. So in the next two to three months we will be watching what the company representatives are telling us about their business," said Thomas Romig, chief investment officer, multi-asset at Assenagon.
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