Why CoreWeave, Inc. (CRWV) Skyrocketed On Tuesday
We recently published a list of . In this article, we are going to take a look at where CoreWeave, Inc. (NASDAQ:CRWV) stands against other Tuesday's best performers.
CoreWeave extended its winning streak on Tuesday, jumping 25.19 percent to close at $150.48 apiece as investor optimism was fueled by its $7-billion deal with Applied Digital Corporation (NASDAQ:APLD).
In a statement, Applied Digital Corporation (NASDAQ:APLD) said that it entered into two 15-year lease agreements with CoreWeave, Inc. (NASDAQ:CRWV), under which the former will deliver 250 megawatts of critical IT load to host the latter's artificial intelligence (AI) and high-performance computing (HPC) infrastructure at its Ellendale, North Dakota data center campus.
A close up of a circuit board, its microchips creating a powerful computing system.
Pursuant to the lease contracts, CoreWeave, Inc. (NASDAQ:CRWV) also retains the option to access an additional 150 MW of critical IT load at Ellendale, positioning the campus as a scalable hub for expanding AI and HPC workloads.
Applied Digital is expected to deliver the first 100 MW of data center in the fourth quarter of the year, while the remaining 150 MW is expected to come online in the middle of 2026.
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Disclosure: None. This article is originally published at Insider Monkey.
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