CoreWeave (CRWV) Stock Rises 29% in a Week as Bond Deal Hits $2.75 Billion

TLDR

• CoreWeave upsized its high-yield bond offering by $1 billion, bringing the total to $2.75 billion at 9.75% interest.
• The stock is up 29% over the past week and 191% over the past year.
• A $6 billion compute deal with Jane Street, plus a $1 billion equity investment, drove fresh momentum.
• CoreWeave’s revenue backlog has surged past $90 billion, up from $66.8 billion at end of 2025.
• Cantor Fitzgerald raised its price target to $156, maintaining an Overweight rating.

CoreWeave has had a busy week. The AI cloud company added $1 billion to its existing bond offering on Thursday, bringing the total size of its 9.75% senior unsecured high-yield notes to $2.75 billion.

CoreWeave, Inc. Class A Common Stock, CRWV

The decision came down to one thing: demand. A CoreWeave spokesperson described investor appetite as “overwhelming.”

This latest move is part of a broader capital raise. Earlier this week, CoreWeave closed a $4 billion convertible senior note offering — originally targeting $3 billion, upsized to $3.5 billion, and then expanded again after underwriters exercised a $500 million overallotment option.

In March, the company issued an $8.5 billion delay-draw term loan — the first AI infrastructure loan to receive an investment-grade rating. It carried an all-in interest rate of under 6% and was secured against GPU hardware and customer contracts.

All of this borrowing is tied directly to contracted demand. CoreWeave’s revenue backlog stood at $66.8 billion at the end of 2025. Recent deals have pushed that number past $90 billion.

A String of Major Deals

The week’s headline deal was a $6 billion compute agreement with Jane Street. The quantitative trading firm will use CoreWeave’s infrastructure across multiple facilities, including capacity built around NVIDIA’s Vera Rubin technology. Jane Street also made a $1 billion equity investment in CoreWeave at $109 per share.

That deal was the third major contract CoreWeave announced in recent weeks. Meta committed an additional $21 billion to its existing CoreWeave partnership. Anthropic also signed on as a new customer.

Cantor Fitzgerald analyst Brett Knoblauch raised his price target on CRWV to $156 from $149 following the Jane Street news, while keeping an Overweight rating. He said the deals point to higher backlog, stronger near-term revenue, and a more diversified customer base.

Knoblauch added that CoreWeave has enough available capacity to announce further deals in the coming months, with contracts ramping through end of 2025 and into 2027. He expects the backlog could hit $100 billion by Q2 2026.

Evercore ISI also raised its price target to $150 from $120, maintaining an Outperform rating. Wolfe Research initiated coverage with an Outperform rating and a $150 target, citing CoreWeave’s position in the neocloud space.

Stock Performance

CRWV is up 29% over the past week and has gained 191% over the past year. Year-to-date, the stock is up roughly 66%.

Despite those gains, InvestingPro analysis flags the stock as overvalued relative to its fair value estimate. Analysts are not expecting the company to turn profitable in 2026.

CoreWeave has faced criticism over its debt levels, but the company argues its borrowing is demand-driven and backed by contracted revenue. Revenue grew 168% over the last twelve months.

The stock was trading at $118.69 as of the latest data, with CRWV shares down about 2% on Thursday as broader markets pulled back.

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