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Investing.com -- CoreWeave (NASDAQ:CRWV) stock rose 14% as the AI hyperscaler benefited from increased capital expenditure plans announced by tech giants Meta Platforms (NASDAQ:META) and Microsoft (NASDAQ:MSFT), signaling robust demand for AI infrastructure.
The company’s shares climbed following Meta’s decision to raise the low end of its 2025 capital expenditure forecast while providing early guidance on 2026 spending. Meanwhile, Microsoft announced plans to spend upwards of $30 billion in the current quarter, representing at least a 50% increase compared to the same period last year.
Adding to the positive momentum, CoreWeave recently closed a $2.6 billion delayed draw term loan facility, which the company says will support the purchase and maintenance of advanced equipment, hardware, and cloud infrastructure systems to deliver services under a long-term agreement with OpenAI.
"We’re proud to partner with leading financial institutions on this landmark transaction that delivers on our commitment to lower our cost of capital," said Brannin McBee, Chief Development Officer and co-founder of CoreWeave.
The financing comes as CoreWeave strengthens its position in the AI infrastructure market. Sarah Friar, CFO of OpenAI, highlighted the importance of their partnership, stating, "CoreWeave is an important partner in OpenAI’s overarching AI infrastructure platform."
The stock also received a boost from an upgrade by Citi analysts, further reinforcing investor confidence in the company’s growth trajectory amid increasing demand for specialized AI computing resources.
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