CoreWeave, Inc.'s stock soared 6.65% during intraday trading on Wednesday following the announcement of a significant new strategic partnership.
The cloud infrastructure provider has entered into a multi-year agreement with artificial intelligence company Perplexity. Under the deal, Perplexity will power its next-generation AI inference workloads on CoreWeave's platform, utilizing dedicated NVIDIA GB200 NVL72-powered clusters. In a reciprocal arrangement, CoreWeave will also implement Perplexity Enterprise Max across its organization to enhance internal search and data analysis capabilities.
This partnership represents a major expansion of CoreWeave's AI infrastructure business and signals growing demand for its specialized AI cloud services, which analysts believe contributed to the positive market reaction and stock price surge.