CoreWeave, Inc. shares surged another 5.31% in overnight trading after a 7.8% rally in regular session on Monday.

The cloud computing company, which specializes in AI-focused services, announced its intention to offer $1.5 billion in senior notes due 2030 and plans to enter into a new delayed draw term loan facility for up to $2.6 billion.

The $1.5 billion senior notes offering, guaranteed on a senior unsecured basis by CoreWeave Cash Management LLC, aims to raise funds for general corporate purposes, including debt repayment and offering-related expenses. Additionally, the company plans to use the $2.6 billion loan facility to fund the purchase and maintenance of equipment and infrastructure to provide services to an undisclosed customer, signaling potential growth in its cloud computing capabilities.

CoreWeave Inc. has secured a deal worth as much as $4 billion to provide additional cloud computing capacity to artificial intelligence leader OpenAI, expanding a tie-up between the two firms.

The data center builder said in a filing last Thursday that OpenAI will pay the sum through 2029. CoreWeave had disclosed a $4 billion deal on its earnings call late Wednesday but did not name the party, beyond describing it as an enterprise AI company.

Further boosting investor confidence was the recent disclosure of Nvidia's increased stake in CoreWeave. Nvidia, the world's most valuable chipmaker, reported owning 24.18 million shares, or about 7% of CoreWeave's outstanding stock, as of March 31. This represents a significant increase from the previously reported 5.2% stake. The strong backing from Nvidia, coupled with CoreWeave's focus on AI-driven cloud services, has contributed to the positive sentiment surrounding the stock. As CoreWeave continues to expand its operations and secure substantial funding, investors appear optimistic about the company's growth prospects in the rapidly evolving AI and cloud computing sectors.