RB Markets · The desk · Friday 6 November 2026

Wall Street bid CoreWeave up 6.28% after local ballots banned data centers

The Nasdaq Composite rose 1.09% to 24,579.42 on Friday, recovering part of Thursday's fall. The S&P 500 added 0.31% and the Dow lost 0.46%. CoreWeave, which rents out AI computing capacity, closed up 6.28% at $46.40 after losing 9.83% the day before. IREN closed up 20.02% after reporting that sales in its AI cloud unit rose to $200 million from $71 million in the prior quarter. Micron gained 5.12%, against a 17.46% drop on Thursday.

24/7 Wall St. called the day a relief rally, meaning a bounce after heavy selling, carried by two earnings beats. October payrolls helped: employers added 165,000 jobs and unemployment fell to 4.1%, the Bureau of Labor Statistics said. Jefferies' Jane Gibbons called Thursday's selloff "reactionary, not a fundamental reset."

The price counted the rent that chips earn, and IREN's quarter showed that rent growing fast. It left out the towns where the buildings go. Data center bans swept local ballots this week, and Trenton, Ohio, passed its ban with about 80% after a court ordered the vote. Friday's session bid the companies that rent out chips back up anyway. Compute landlords and chip sellers captured the bounce; the residents who sued for a vote registered nowhere in it.

Micron's move tracked the chip rebound, in which AMD rose 11.04% and Nvidia 2.78%. The company awarded its Taiwan staff up to 68 months of pay, and its Taoyuan union still wants 15% of profit. The ledger books that award as a cost the company sets alone. The union is asking for a formula.

The tape will watch whether the bid for compute landlords holds as more towns take siting to the ballot. It will also watch whether Micron's price ever registers its Taoyuan bargaining.

Sources

RB Markets is analysis of how value is being measured and mismeasured. It is not investment advice.