CoreWeave, Inc. (CRWV) surged 5.12% over the 24-hour period, capping a strong intraday rally that saw the AI cloud computing stock extend its rebound from two consecutive sessions of sharp declines. The move higher reflected a broader recovery in neocloud and AI infrastructure names during the session.

The rally was primarily fueled by reports that CoreWeave successfully improved the terms on a $2.6 billion leveraged loan facility designed to provide additional computing power for enterprise clients, including Anthropic. The revised financing terms eased market concerns over the company's high-leverage expansion model and debt burden, which had been a key overhang on the stock in recent weeks. Additionally, CoreWeave announced a collaboration with Leidos to deliver secure, sovereign AI cloud services for U.S. intelligence and defense missions, further underscoring its expanding role in the national security AI infrastructure market. The positive sentiment was reinforced by Oppenheimer, which reiterated an outperform rating and a $150 price target, noting that CoreWeave's Q2 revenue is expected to come in at the high end of its guidance range, with industry demand remaining about four times available supply.

The broader AI sector also received a boost from news that Citadel had acquired the bulk of Situational Awareness's stock holdings, including a position in CoreWeave, after the AI-focused hedge fund faced heavy losses and was forced to unwind its public equities portfolio. This helped stabilize shares and contributed to the positive momentum across neocloud stocks during the session.