Shares of CoreWeave, Inc. (CRWV) soared 7.40% during intraday trading on Tuesday, continuing its impressive run in the AI infrastructure market. This surge follows a string of positive developments for the company, including a major deal with OpenAI, increased backing from Nvidia, and new financing initiatives.

The rally can be attributed to several factors that have bolstered investor confidence in CoreWeave's growth prospects. Last week, the company secured a significant $4 billion deal with OpenAI, expanding their partnership over the next four years. This agreement has strengthened CoreWeave's position in the AI infrastructure market. Additionally, Nvidia, the world's most valuable chipmaker, recently disclosed an increased stake in CoreWeave, now owning about 7% of outstanding stock, up from the previously reported 5.2%.

CoreWeave's momentum is further fueled by its plans to offer $1.5 billion in senior notes due 2030 and to enter into a new delayed draw term loan facility for up to $2.6 billion. These financing initiatives are aimed at supporting the company's growth and infrastructure expansion. The company's strong performance was also evident in its recent Q1 earnings report, which exceeded market expectations with $981.6 million in revenue. Since its Nasdaq debut in March at $40 per share, CoreWeave's stock has more than doubled, reflecting the market's optimism about its future in the rapidly evolving AI and cloud computing sectors.