In August, U.S. stocks that had been weighed down by Wall Street’s bearish narratives rebounded sharply, CNBC reported. Jim Cramer said worries over AI threats, slower growth and worsening conditions were overturned by earnings and shifts in positioning. Moderna surged after reporting promising results for an experimental melanoma vaccine with Merck. Enterprise software names rebounded as a high-leverage hedge fund unwound bets. Other gainers included Gartner, Newmont, Paramount Skydance, Super Micro Computer, Sandisk and Coinbase.

AI infrastructure shares rose on Aug. 12 after CoreWeave, Super Micro Computer and Nebius Group reported quarterly results above market expectations. Nebius gained about 23 percent and CoreWeave rose about 19 percent. Investors focused on CoreWeave’s backlog, which topped $100 billion, up about 50 percent from the previous quarter, with another $25 billion in orders after quarter-end. Funding costs, and limits tied to power and cooling, remained key issues.