CoreWeave, Inc. (CRWV) stock soared 5.56% in pre-market trading on Wednesday, continuing its impressive rally following a series of positive developments in the AI infrastructure space. This surge comes on the heels of a remarkable 25% gain in the previous trading session, highlighting the strong investor confidence in the company's growth prospects.

The pre-market jump can be attributed to several factors, chief among them being CoreWeave's recently announced long-term data center leasing deal with Applied Digital. This partnership, which could potentially generate $7 billion in revenue for Applied Digital, significantly expands CoreWeave's infrastructure capacity and solidifies its position as a key player in the rapidly growing AI computing market.

Adding to the positive sentiment, CoreWeave recently reported stellar first-quarter results for 2025, showcasing a staggering 420% year-over-year revenue growth to $982 million. The company's adjusted EBITDA reached $606 million, representing an impressive 62% margin. Investors were particularly enthused by CoreWeave'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 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, attracting major clients and driving its stock to new heights.

As CoreWeave continues to expand its enterprise footprint and integrate recent acquisitions, investors are betting on the company's potential to become a cornerstone in the AI compute infrastructure. With the stock's pre-market surge, it appears that the market's enthusiasm for CoreWeave's growth story shows no signs of abating in the near term.