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CoreWeave Stock Surges 276% YTD on $7B AI Data Center Deal
CoreWeave Stock Surges 276% YTD on $7B AI Data Center Deal
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CoreWeave's shares skyrocketed 25% intraday with additional 5% pre-market gains after securing a $7 billion infrastructure agreement with Applied Digital. The AI cloud-computing firm will lease 250MW of data center capacity in North Dakota through two 15-year contracts, with options to expand by 300MW.
Applied Digital's Ellendale campus, capable of supporting 400MW initially with potential for 1GW expansion, positions both companies at the forefront of AI infrastructure development. "This partnership validates our leadership in high-performance computing," said CEO Wes Cummins, following the company's recent $375 million financing from SMBC.
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