CoreWeave, Inc. (CRWV) shares jumped 12.65% to $103.64 following the pricing of a $3.5 billion convertible notes offering. The deal, upsized from an initial $3.0 billion target, included an option for buyers to purchase an additional $500 million in notes. Momentum held as the stock consolidated between $103 and $105, signaling strong investor confidence.

The 1.75% convertible senior notes due 2032 will settle on April 14, 2026, with semiannual interest payments beginning in October 2026. Structured as senior unsecured obligations, the notes feature full subsidiary guarantees and flexible conversion terms—into cash, stock, or a mix at CoreWeave’s discretion. The initial conversion rate was set at 8.3612.

Market reaction highlights growing appetite for hybrid debt-equity instruments, particularly in high-growth tech sectors. The offering’s success reflects broader institutional demand for innovative capital structures amid volatile macroeconomic conditions.