CoreWeave, Inc. (CRWV) shares soared 5.12% in pre-market trading on Thursday, building on the previous day's 19% gain, as investors reacted positively to the company's successful $2 billion debt offering.
The artificial intelligence cloud company announced on Wednesday that it had priced $2 billion of senior notes with a 9.25% interest rate due in 2030. The deal saw strong demand, with CoreWeave revealing to Barron's that it was upsized by $500 million and was five times oversubscribed, indicating robust investor confidence in the company's future prospects.
This surge in CoreWeave's stock price comes amid a flurry of positive developments for the company. Last week, CoreWeave reported better-than-expected revenue and full-year guidance in its first quarter as a public company. Additionally, the company disclosed a new agreement with OpenAI for services worth up to $4 billion through April 2029, further cementing its position in the rapidly growing AI infrastructure market.
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