NEW YORK, January 3, 2026, 10:42 ET — Market closed
- CoreWeave shares ended Friday up about 10.8%, outpacing the broader market’s first session of 2026.
- An SEC filing showed the AI cloud firm loosened liquidity and covenant tests on a key delayed-draw term loan facility. SEC
- Executives also reported end-of-year share sales in Form 4 filings, largely tied to tax withholding on vested stock units. SEC
CoreWeave, Inc. shares climbed in the last session after the Nvidia-backed AI cloud provider disclosed changes to a major credit agreement that lowered near-term liquidity requirements and pushed back some covenant tests, a filing showed. The stock ended Friday at $79.32, up $7.70, or 10.8%, after trading between $72.95 and $81.11. SEC
The update matters now because CoreWeave’s business is capital intensive: it buys and deploys large amounts of computing hardware to serve customers building and running artificial intelligence models, and investors have been focused on how fast-growing “AI infrastructure” firms fund expansion without tripping lender rules. SEC
Covenant breathing room can be especially important when equipment deliveries and customer ramp-ups do not line up neatly with debt repayment schedules. Friday’s move suggests the market viewed the amendment as a near-term de-risking step even as scrutiny remains high on leverage and cash needs across the sector. SEC
In a Form 8-K dated January 2, CoreWeave said its subsidiary CoreWeave Compute Acquisition Co. VII, along with the parent and a related holding company, entered into a “First Amendment” to the DDTL 3.0 Credit Agreement and a related guarantee and pledge agreement. MUFG Bank is listed as administrative agent, with U.S. Bank entities among the parties named in the filing. SEC
The amendment reduced the “minimum liquidity” amount to $100 million for monthly payment dates from March 1, 2026 through April 30, 2026, the filing said. It also postponed the initial testing date for the debt service coverage ratio — a standard covenant that gauges cash generation versus required debt payments — until October 31, 2027, and delayed initial testing of a contract realization ratio covenant until February 28, 2026. SEC
CoreWeave also expanded “equity cure” rights, which allow a borrower to inject equity to remedy covenant failures. The filing said the company can use an unlimited number of equity cures for certain covenant failures before October 28, 2026, with tighter limits after that date. SEC
Separate SEC Form 4 filings showed several executives sold shares in transactions dated December 31, 2025, including Chief Executive Michael Intrator, Chief Strategy Officer Brian Venturo and Chief Development Officer Brannin McBee. The filings said the reported sales were largely to satisfy tax withholding obligations tied to the vesting and settlement of restricted stock units. SEC
Intrator also disclosed additional sales executed under a preset trading program. In the filing, he said one sale was “effected pursuant to a Rule 10b5-1 trading plan” adopted on May 23, 2025. SEC
CoreWeave has been a closely watched AI infrastructure name since its Nasdaq debut in 2025, when it priced its initial public offering at $40 a share. CoreWeave
The stock has also been sensitive to operational and funding headlines. In November, CoreWeave shares fell sharply after it cut its annual revenue forecast, citing data center delays, Reuters reported at the time. Reuters
Before the next session, investors will be watching for CoreWeave’s annual report on Form 10-K for the fiscal year ended December 31, 2025. The company said the full text of the credit agreement amendment will be filed as an exhibit to that 10-K. SEC
Traders will also look for an update on the timing of the next quarterly report. The company has not posted a confirmed date on its investor site, while Nasdaq’s earnings calendar lists an estimated report date of Feb. 9, 2026. Nasdaq
Macro data loom as well. A Reuters “week ahead” report flagged the January 9 U.S. jobs report as a key early test for rate expectations, with January 13 CPI also on the calendar. The Federal Reserve’s next scheduled policy meeting is January 27–28. Reuters
On the chart, Friday’s $81.11 intraday high is the near-term level bulls will try to retake, while $72.95 — the day’s low — is the first support traders will cite if the rally fades.
