CoreWeave shares gained another 5.4% in premarket trading on Tuesday.

Nvidia-backed CoreWeave —a leading AI infrastructure provider—saw its stock climb 7.83% on Monday, reaching $86.59, the highest price since its March 2025 IPO. 

Last week, CoreWeave signed a $4 billion deal with OpenAI, securing expanded cloud computing capabilities over the next four years. This major partnership sent CoreWeave’s stock skyrocketing over 20%. 

Since its Nasdaq debut on March 28 at $40 per share, CoreWeave’s stock has more than doubled, gaining 115% to date.  

On May 14, CoreWeave released its first post-IPO earnings report, revealing $981.6 million in revenue, significantly above market expectations of $853 million. The full-year forecast also exceeded analysts' predictions.  

CEO Michael Intrator expressed strong confidence in the company’s trajectory, stating:  "The demand for our AI infrastructure is truly insatiable. To meet this growing need, CoreWeave is accelerating its investment plans, with total spending expected to reach $23 billion this year." 

Meanwhile, Nvidia, the world’s most valuable chipmaker, disclosed a holding of 24.18 million CoreWeave shares, or about 7% of outstanding stock, as of March 31. That stake, included in a 13G filing on Thursday, compared with a 5.2% figure in CoreWeave’s prospectus.

The amount shows how Nvidia supported CoreWeave’s late-March initial public offering, acquiring about 6 million shares to add to its existing holding. A representative for Santa Clara, California-based Nvidia declined to comment.