Stock Track | CoreWeave Soars 5.01% After Hours on $2 Billion Note Offering and Major GPU Order

Stock Track
29 May

Shares of CoreWeave, Inc. (NASDAQ: CRWV) surged 5.01% in after-hours trading on Wednesday, following a series of significant announcements that highlight the company's strong position in the AI infrastructure market.

CoreWeave announced the closing of a $2 billion private offering of senior notes due 2030, carrying a 9.25% interest rate. The company plans to use the proceeds for general corporate purposes, including debt repayment and offering-related expenses. This substantial capital raise demonstrates investor confidence in CoreWeave's growth prospects and provides the company with additional financial flexibility to pursue its expansion plans.

Adding to the positive sentiment, Nvidia, a key partner of CoreWeave, revealed in a blog post that CoreWeave has placed an order for 100,000 Blackwell GPUs, worth over $3 billion. This massive order underscores CoreWeave's commitment to expanding its AI computing capabilities and positions the company as a major player in the rapidly growing AI infrastructure market.

Furthermore, Blue Owl Capital announced the closure of a $750 million investment in an AI data center joint venture, which includes CoreWeave as a partner. This collaboration is expected to deploy up to $5 billion to build turnkey data centers for AI and high-performance computing applications, further solidifying CoreWeave's role in the AI ecosystem.

The combination of these developments appears to have fueled investor enthusiasm, driving CoreWeave's stock higher in after-hours trading. As the demand for AI infrastructure continues to grow, CoreWeave seems well-positioned to capitalize on this trend with its expanded financial resources and strategic partnerships.

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