Stock Market Today, April 9: CoreWeave Rises After Announcing $21 Billion AI Cloud Deal With Meta

CoreWeave (NASDAQ:CRWV), an AI-focused cloud infrastructure provider, closed Thursday at $92, up 3.49%. The stock moved higher as investors responded to an expanded $21 billion long-term AI cloud capacity agreement with Meta Platforms. Investors are also watching how new debt financing shapes CoreWeave’s growth and profitability path. Trading volume reached 65 million shares, coming in about 149% above its three-month average of 26.1 million shares. CoreWeave IPO'd in 2025 and has grown 130% since going public.

How the markets moved today

The S&P 500 added 0.61% to finish Thursday at 6,824, while the Nasdaq Composite rose 0.83% to close at 22,822. Within cloud infrastructure technology, industry peers Amazon closed at $233.65 (up 5.60%) and Microsoft ended at $373.07 (down 0.34%), reflecting mixed reactions to evolving AI partnerships.

What this means for investors

Just six months after inking a $14.2 billion deal to supply computing power to Meta through 2031, CoreWeave announced another $21 billion deal with Meta to provide additional cloud computing capacity through 2032. Worth roughly $6 billion in annual sales, these two deals alone could generate more revenue than CoreWeave earned over the last year ($5 billion).

With all the mega-cap tech stocks jockeying for supremacy in the AI race, CoreWeave’s AI cloud and partnership with Nvidia have become a must-have offering. However, while the company will be buoyed by an AI-powered tailwind, CoreWeave relies on large debt offerings and equity raises to fund its immense capex needs, so investors need to beware of this risk.

Josh Kohn-Lindquist has positions in Nvidia. The Motley Fool has positions in and recommends Amazon, Meta Platforms, Microsoft, and Nvidia. The Motley Fool has a disclosure policy.