CoreWeave Stock Surges After $2 Billion Debt Offering Draws Strong Investor Demand
CoreWeave shares soared after the artificial intelligence (AI) cloud company announced it successfully priced a $2 billion senior notes offering, highlighting robust investor interest.
The senior notes, carrying a 9.25% interest rate and maturing in 2030, were upsized by $500 million due to high demand and were five times oversubscribed, according to the company. CoreWeave stated that the proceeds will be used for general corporate purposes, including the repayment of existing debt.
Following the announcement, CoreWeave’s stock jumped 16.7% in late Wednesday trading, closing at $107.39.
The rally comes on the heels of CoreWeave’s strong first earnings report as a public company. The firm posted better-than-expected revenue and raised full-year guidance. It also disclosed that it secured a major new hyperscaler client—revealed on its website as Google, a subsidiary of Alphabet.
In addition, CoreWeave's latest SEC 10-Q filing revealed a new agreement with OpenAI for additional services valued at up to $4 billion through April 2029.
Since going public in late March at an IPO price of $40—below its initial target range—CoreWeave’s stock has skyrocketed, boosted by strong earnings and positive capital expenditure outlooks from major tech firms. The stock is up 179.19% over the past month.
CoreWeave shares soared after the artificial intelligence (AI) cloud company announced it successfully priced a $2 billion senior notes offering, highlighting robust investor interest.
The senior notes, carrying a 9.25% interest rate and maturing in 2030, were upsized by $500 million due to high demand and were five times oversubscribed, according to the company. CoreWeave stated that the proceeds will be used for general corporate purposes, including the repayment of existing debt.
Following the announcement, CoreWeave’s stock jumped 16.7% in late Wednesday trading, closing at $107.39.
The rally comes on the heels of CoreWeave’s strong first earnings report as a public company. The firm posted better-than-expected revenue and raised full-year guidance. It also disclosed that it secured a major new hyperscaler client—revealed on its website as Google, a subsidiary of Alphabet.
In addition, CoreWeave's latest SEC 10-Q filing revealed a new agreement with OpenAI for additional services valued at up to $4 billion through April 2029.
Since going public in late March at an IPO price of $40—below its initial target range—CoreWeave’s stock has skyrocketed, boosted by strong earnings and positive capital expenditure outlooks from major tech firms. The stock is up 179.19% over the past month.