AI cooperation boosts market confidence, CoreWeave (CRWV.US) junk bonds are sought after, stock price rises by over 6%.

Recently issued junk bonds by cloud infrastructure company CoreWeave (CRWV.US) have performed strongly in the secondary market, reflecting investors' continued enthusiasm for artificial intelligence-related assets as the company reaches multiple cooperation agreements with large technology companies. Data shows that the $1.75 billion, 9.75% high-yield bonds issued by the company have risen to 101.88 cents, significantly higher than the issue price of 100 cents. The bond was upsized on the day of issuance from the initially planned $1.25 billion to $1.75 billion, indicating strong demand during the issuance phase. Meanwhile, the $3.5 billion convertible bond issued by the company has not yet started trading. This financing comes as CoreWeave accelerates its expansion in the AI business. The company previously announced an agreement with Meta Platforms (META.US) to provide AI computing power support. In addition, AI startup Anthropic also signed a data center lease agreement with CoreWeave to meet its rapidly growing computing power needs. With multiple favorable news driving it, CoreWeave's stock price rose over 6% in early trading, reaching $97.61, and market sentiment noticeably improved. Analysts point out that the trading performance of a new bond issuance in the days following is often considered an important indicator of whether the pricing was reasonable, and the rapid strengthening of the bond in the secondary market indicates that the initial pricing may have been conservative, and also reflects unmet market demand.