NEW YORK, April 13, 2026, 10:10 AM EDT
CoreWeave traded 7.5% higher at $109.64 just before 10 a.m. EDT Monday, extending a rally triggered by its latest deal to supply Anthropic with compute power for Claude models. Shares jumped more than 13% on Friday after the news broke.
Investors are watching this deal closely. Snagging another high-profile client hands CoreWeave extra firepower—both to back up its rapid borrowing spree and to counter concerns it’s too dependent on just a handful of customers. Microsoft’s share of CoreWeave’s revenue clocked in at about 67% last year. With Anthropic now onboard, CoreWeave claims it’s serving nine of the top ten AI model firms.
CoreWeave plans to bring more capacity online before the year is out, as part of its long-term deal with Anthropic. The first phase is set for rollout soon, with potential for expansion. No word yet on financial terms.
“AI is no longer just about infrastructure,” Chief Executive Michael Intrator said, pointing to a move toward applying models for “real-world impact.” The company says its partnership supports both building and rolling out Anthropic’s Claude models. ([CoreWeave][3])
The Anthropic agreement capped a whirlwind period. Back on April 9, CoreWeave disclosed a fresh order form with Meta: The Facebook parent is committing about $21 billion for compute capacity through Dec. 20, 2032. Add that to a $14.2 billion contract inked last September.
Meta has locked in access to Nvidia’s soon-to-arrive Vera Rubin systems, aiming those resources squarely at inference—AI answering prompts or generating material for users. Bernstein analyst Madison Rezaei called it a “capacity land grab,” with Meta scooping up whatever’s on offer. ([CoreWeave][5])
CoreWeave first secured $1.75 billion in senior notes at 9.75%, set to mature in 2031, to finance its growth plans. Just a day after that, the company increased its convertible debt sale to $3.5 billion, issuing 1.75% notes due in 2032. According to CoreWeave, the capital from these moves will go toward general corporate purposes; specifically for the convertible notes, some of the proceeds are earmarked for capped-call transactions designed to limit dilution if the notes convert to equity.
But spending hasn’t slackened. Back in February, CoreWeave put out a capex estimate of up to $35 billion for this year—way above its $14.9 billion target for 2025. Last year’s interest expense came in at $1.23 billion. Rezaei, meanwhile, has openly questioned how long CoreWeave can count on big customers like Meta and Microsoft to keep data-center demand strong.
CoreWeave’s latest figures help clarify the strategy. In February, finance chief Nitin Agrawal pegged backlog at $66.8 billion, touting “exceptional visibility” for the company as it eyes 2026 and beyond. Now, with the Anthropic agreement, there’s another name in the portfolio—though the contract’s value wasn’t revealed. CoreWeave
This deal gives Anthropic one more avenue to lock down scarce compute resources for Claude. CoreWeave, on its end, picks up another test for its strategy: turning surging AI infrastructure demand into steadier income.
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