CoreWeave, Inc. (CRWV) stock surged 5.05% in 24 hours on Tuesday, continuing its impressive rally following the release of stellar first-quarter results for 2025 and a series of strategic partnerships that solidify its position in the AI infrastructure market.

The company, which went public in March, reported a remarkable 420% year-over-year revenue growth to $982 million for Q1 2025. CoreWeave's adjusted EBITDA reached $606 million, representing an impressive 62% margin. Investors were particularly enthused by the company's massive $25.9 billion revenue backlog, with over 90% of its revenue coming from prepaid, multi-year infrastructure contracts.

CoreWeave's unique position in the AI infrastructure space is further strengthened by its operation of 33 AI-optimized data centers with 420MW active and 1.6GW contracted capacity across the U.S. and Europe. The company's ability to support large-scale AI workloads has attracted major clients, including a reported $11.9 billion contract with OpenAI. Additionally, CoreWeave recently signed two 15-year lease agreements with Applied Digital, which could generate approximately $7 billion in revenue, further expanding its infrastructure capacity.

The stock's surge also reflects investor confidence in CoreWeave's close relationship with Nvidia, both as a significant investor and a major chip supplier. This partnership has bolstered CoreWeave's competitive edge in the rapidly growing AI cloud market. As the company continues to expand its enterprise footprint and integrate recent acquisitions, investors are betting on CoreWeave's potential to become a cornerstone in the AI compute infrastructure, driving its stock to new heights.