NEW YORK, April 13, 2026, 10:10 AM EDT
CoreWeave was up 7.5% at $109.64 as of 9:54 a.m. EDT Monday, building on gains sparked by its new agreement to provide Anthropic with compute for Claude models. Shares had surged over 13% on Friday, following news of the deal.
Investors have a close eye on this deal—it brings in another marquee client and gives CoreWeave some ammunition on two fronts: proving it can move past reliance on just a few customers, and showing fresh contracts can support its aggressive borrowing for growth. Last year, Microsoft accounted for around 67% of CoreWeave’s revenue. Now, with Anthropic signed on, CoreWeave says it’s providing services to nine out of the top 10 AI model players.
CoreWeave expects to add capacity later this year under its multi-year contract with Anthropic, with an initial phased rollout that may increase down the line. No financial details were released.
“AI is no longer just about infrastructure,” Chief Executive Michael Intrator said, framing the shift toward using models for “real-world impact.” According to the company, the partnership backs both the development and deployment of Anthropic’s Claude models. ([CoreWeave][3])
The Anthropic deal rounded out a hectic stretch. On April 9, CoreWeave revealed a new order form with Meta: The Facebook owner’s initial commitment totals roughly $21 billion for compute capacity through Dec. 20, 2032. That’s on top of a $14.2 billion agreement signed last September.
Meta’s latest move secures a slice of Nvidia’s upcoming Vera Rubin systems, specifically targeting inference workloads—basically, when AI models field questions or turn out content for users. Bernstein’s Madison Rezaei described the current rush as a “capacity land grab,” noting Meta is snapping up every available avenue. ([CoreWeave][5])
CoreWeave lined up $1.75 billion in 9.75% senior notes maturing 2031 to help bankroll the expansion, then bumped a convertible debt offering to $3.5 billion in 1.75% notes coming due 2032 just a day later. The company said proceeds are earmarked for general corporate use, and, for the convertible portion, to fund capped-call transactions aimed at curbing dilution if the notes are swapped for equity.
Still, spending hasn’t let up. CoreWeave back in February projected as much as $35 billion in capex for this year—well above the $14.9 billion it’s targeting for 2025. Interest expense last year landed at $1.23 billion. Rezaei, for his part, has thrown out doubts about how long CoreWeave can rely on heavyweight clients like Meta and Microsoft to keep data-center demand humming.
CoreWeave’s numbers shed some light on the move. Back in February, finance chief Nitin Agrawal put backlog at $66.8 billion, saying that gave the company “exceptional visibility” as it pushes forward into 2026 and further out. The new Anthropic deal adds a fresh name to that list—though the contract’s dollar value hasn’t been disclosed. CoreWeave
Anthropic gets another route to secure limited compute for Claude with this contract. For CoreWeave, it’s yet another check on whether a business model focused on leasing AI infrastructure can actually convert all that hot demand into a more predictable revenue stream.
[3]: https://investors.coreweave.com/news/news-details/2026/CoreWeave-Announces-Multi-Year-Agreement-With-Anthropic/default.aspx “
CoreWeave – CoreWeave Announces Multi-Year Agreement With Anthropic
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[5]: https://investors.coreweave.com/news/news-details/2026/CoreWeave-and-Meta-Announce-21-Billion-Expanded-AI-Infrastructure-Agreement/default.aspx “
CoreWeave – CoreWeave and Meta Announce $21 Billion Expanded AI Infrastructure Agreement
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