CoreWeave stock keeps going up: 3 reasons why the AI cloud-computing company is on fire this week
CoreWeave is having a very eventful week, and its stock price reflects it.
Shares of the AI cloud-computing firm (Nasdaq: CRWV) are up more than 37% in five days following deals with Meta Platforms and Anthropic.
On Thursday, April 9, CoreWeave announced a six-year agreement with social media giant Meta, parent company of Facebook and Instagram. CoreWeave will supply AI cloud capacity to Meta through December 2032.
“The dedicated capacity will be deployed across multiple locations and will include some of the initial deployments of the Nvidia Vera Rubin platform,” CoreWeave stated in a release. “This distributed approach is designed to optimize performance, resilience, and scalability for Meta’s AI operations.”
The agreement is worth about $21 billion for CoreWeave.
Then, on Friday, April 10, the company announced another deal, this time with Anthropic. The multi-year agreement will see CoreWeave support Anthropic’s development and deployment of the latter’s Claude AI models. The plan is to bring compute online by the end of the year.
“CoreWeave joins Anthropic’s growing ecosystem of infrastructure partners helping to scale the adoption of Anthropic’s AI models across developers, startups, and enterprises worldwide,” the company stated in another release. “With the addition of Anthropic, nine of the leading ten AI model providers now leverage CoreWeave’s platform, reflecting the growing demand for infrastructure that can support AI at scale.”
Analyst goes from hold to buy
In response to these developments, Macquarie analyst Paul Golding upgraded CoreWeave’s position from Hold to Buy. Golding further increased its target price from $90 to $125 per share. Currently, it’s at about $115 per share.
As of early Tuesday, CoreWeave shares are up another 4.53% in premarket trading. The stock has increased 39% year to date.
Although it has been volatile along with many tech stocks in 2026, CoreWeave has far outperformed the broader Nasdaq Composite, which has declined 0.22% over the same period.