(Updates to afternoon, adds analyst comment)

* CoreWeave ( CRWV ) jumps after lifting annual capex forecast

* US consumer prices rise as expected in July

* S&P 500 +0.29%, Nasdaq +0.57%, Dow +0.03%

By Noel Randewich and Purvi Agarwal

Aug 12 (Reuters) - The S&P 500 and the Nasdaq rose on

Wednesday, lifted by upbeat quarterly results from CoreWeave ( CRWV ) and

other AI infrastructure firms, while mild inflation data

reinforced bets that the U.S. Federal Reserve will hold interest

rates steady in September.

U.S. consumer prices barely increased in July as the cost of

gasoline declined for a second straight month, while underlying

inflation was benign, further reducing expectations of an

interest rate hike from the Federal Reserve next month.

"The numbers came in right in line. The market's reaction is

slightly positive because the market was fearful it was going to

come in worse than it did. You're seeing a market thinking that

the Fed is not being pushed toward a rate hike," said Robert

Pavlik, senior portfolio manager at Dakota Wealth in Fairfield,

Connecticut.

CoreWeave ( CRWV ) surged 19% after the AI cloud company lifted

its annual capital spending forecast and topped second-quarter

earnings estimates.

Data center operators also rose, with IREN ( IREN ) gaining 8.6%

and Applied Digital ( APLD ) up 3.8%. Data center company Nebius

Group ( NBIS ) jumped 28%, helped by second-quarter results that

beat expectations.

Super Micro Computer ( SMCI ) surged 18% after the AI server

maker forecast fiscal 2027 revenue above Wall Street

expectations.

Chipmakers gained, with Nvidia ( NVDA ) rising 3% and Micron

Technology ( MU ) adding 7%. The PHLX Semiconductor Index

advanced about 3.4% and was on track for its biggest one-day

jump in more than a week.

The S&P 500 was up 0.29% at 7,750.89 points.

The Nasdaq gained 0.57% to 26,597.22 points, while the Dow

Jones Industrial Average was up 0.03% at 53,808.15 points.

Lifted by upbeat quarterly earnings reports, the S&P 500

notched a record-high close on Friday, and it is up about 13% so

far in 2026.

Eight of the 11 S&P 500 sector indexes rose, led by

information technology, up 1.18%, followed by a 0.98%

gain in real estate.

Wall Street's fear gauge, the CBOE Volatility Index,

briefly touched a seven-month low and was last down 0.68 point

at 14.60.

Traders are now pricing in a 62% chance of the Fed holding rates

at its September meeting, according to CME's FedWatch Tool.

Before the July inflation data was released, bets were split

between a hike and no change.

The conflict between the U.S. and Iran remained volatile as a

senior Iranian source said there had been no progress in talks

to revive the interim deal reached in June and define a time

frame to implement it, while shipping attacks continued.

Cava Group ( CAVA ) advanced 13% after the restaurant chain beat

Wall Street expectations for second-quarter sales and core

profit.

Lumentum Holdings ( LITE ) surged 17% after the photonic product

maker forecast first-quarter revenue above analysts'

expectations and beat fourth-quarter estimates.

The S&P 500 posted 15 new highs and 2 new lows; the Nasdaq

recorded 95 new highs and 86 new lows.