New York, June 20, 2026, 15:02 (EDT)
- CoreWeave closed the shortened week at $117.95, up 17.3% from last Friday, just ahead of its addition to the Nasdaq-100 on Monday.
- CoreWeave is joining the Nasdaq-100, along with Astera Labs, Nebius, Rocket Lab and Teradyne, Nasdaq said. The benchmark index tracks more than $800 billion in assets.
- CoreWeave’s surge is running into concerns over its big financing push, as the company sold $1.25 billion and €2 billion of senior notes maturing in 2032.
CoreWeave shares ended the week up during the abbreviated U.S. trading week, as investors adjusted portfolios ahead of the AI cloud company joining the Nasdaq-100 at Monday’s open. The move can trigger buying from index-tracking funds.
The stock ended at $117.95 on Thursday, climbing 2.38% for the session and up 17.3% since its June 12 close at $100.55. With U.S. markets closed Friday for Juneteenth and dark over the weekend, Thursday marked the last regular-session close.
The upcoming regular session will see CoreWeave join the Nasdaq-100, one of the biggest tech-focused indexes. The Nasdaq-100 tracks 100 of the largest non-financial stocks on Nasdaq. Passive index funds, which aim to match the index, usually shift their portfolios when the index changes.
Nasdaq is adding CoreWeave, Astera Labs, Nebius, Rocket Lab, and Teradyne to the index and dropping Charter Communications, Cognizant, Insmed, Verisk Analytics, and Zscaler. CoreWeave lines up closest next to Astera and Nebius—both AI-related names also newly joining in the reshuffle—rather than the software companies that are dropping out.
CoreWeave CEO Michael Intrator said in a June 12 statement that joining the Nasdaq-100 is a sign of the company’s growth and AI’s rise as a key technology. Intrator said CoreWeave built out its cloud for AI ahead of most investor demand.
Bullish market action supported the move. The Nasdaq Composite finished up 1.9% Thursday and rose 2.4% for the week. The S&P 500 added 1.1% on Thursday, AP market data showed. That helped create a good setup for CoreWeave, but its rally went well past the indexes.
Bulls are pointing to backlog math. Backlog is revenue set by customer contracts but not counted as sales yet. CoreWeave posted $99.4 billion in revenue backlog at March 31, with first-quarter revenue at $2.08 billion and adjusted EBITDA of $1.16 billion. The company also listed big deals with Meta, Anthropic, Jane Street and others.
CoreWeave made a push to back up its tech claims this week. The company said it trained the DeepSeek-V3 671B benchmark in 2.02 minutes on 8,192 Nvidia GB300 NVL72 GPUs, which are used for heavy AI workloads. “These results came from the same infrastructure our customers run in production today, not a benchmark-only setup,” said Chen Goldberg, executive vice president of product and engineering at CoreWeave. CoreWeave
Brendan Burke, research director at Futurum Research, said the result showed “full stack AI expertise compounds real-world performance gains as new hardware arrives.” That gets directly at the main question around the stock: is CoreWeave just leasing out rare chips, or does its software, networking, and operations give it staying power? CoreWeave
But risk remains significant. CoreWeave’s business depends on heavy upfront outlays, and it posted a first-quarter net loss of $740 million, with $536 million in net interest expense. The company disclosed $7.55 billion in current debt and $17.31 billion more in non-current debt as of March 31, not including lease obligations. If AI demand falls back, or big clients push out deployments, or financing costs hold up, the same leverage now funding growth could weigh on the stock.
CoreWeave’s new debt deal landed on Thursday as investors watched the index moves. The company closed a private financing for $1.25 billion of 9.625% senior notes and €2 billion of 8.500% senior notes, both set to mature in 2032. Senior notes sit above junior debt in repayment. CoreWeave said it plans to use the funds for general corporate purposes, which may include paying back existing debt.
Week ahead looks clearer than what’s already happened. Monday could see some index demand and fresh eyes from benchmark trackers. Then focus swings back to execution—watch how fast CoreWeave moves its backlog to cash, how much debt buyers are willing to handle, and if AI infrastructure spend keeps rising quick enough to support the current price.
