CoreWeave deal momentum
CoreWeave keeps winning large AI cloud commitments, including a reported multi‑billion dollar deal with Jane Street, and received an upbeat analyst upgrade tied to new partnerships. Those commercial wins are being used to justify higher market expectations for the specialised GPU cloud provider. Market commentary highlights CoreWeave’s growing role as enterprises and quant firms seek GPU capacity. ( )
CoreWeave has stacked three major artificial intelligence cloud wins in one week, capped by Jane Street’s new $6 billion computing commitment on April 15. (reuters.com) Jane Street also bought $1 billion of CoreWeave stock at $109 a share, taking the package to about $7 billion in cloud spending and equity. CoreWeave and Jane Street announced the expanded agreement on April 15. (finance.yahoo.com) The Jane Street deal followed an April 9 expansion with Meta Platforms worth another $21 billion through December 2032, on top of a prior $14.2 billion arrangement. CoreWeave then announced a separate multi-year cloud agreement with Anthropic on April 10. (cnbc.com) (coreweave.com) CoreWeave sells access to large clusters of Nvidia graphics processing units, the chips used to train and run artificial intelligence models. Those chips have been scarce enough that companies including Meta, Anthropic and Jane Street are signing multi-year capacity deals instead of buying servers one order at a time. (coreweave.com) (reuters.com) That demand is showing up in CoreWeave’s own numbers. The company said on February 26 that 2025 revenue reached $5 billion and revenue backlog climbed to $88 billion. (investors.coreweave.com) Wall Street has started marking up those contracts. Macquarie upgraded CoreWeave to Outperform from Neutral on April 13 and raised its price target to $125 from $90, citing the company’s expanding role after the Meta and Anthropic partnerships. (stocktwits.com) (gurufocus.com) Investors have also been weighing the cost of building all that capacity. After the Meta expansion, CoreWeave disclosed a proposed $3 billion private offering of convertible senior notes due in 2032, with an option for buyers to add another $450 million. (finance.yahoo.com) CoreWeave went public on March 28, 2025, on Nasdaq under the ticker CRWV. A year later, the company’s pitch is less about speculative demand and more about whether it can turn signed contracts into delivered compute on schedule. (coreweave.com)
