CoreWeave Inc. (NASDAQ:CRWV) shares rose after the company announced a multi-year agreement with Anthropic to support Anthropic’s artificial intelligence (AI) workloads. The development results from the increasing demand for computing power for AI model training and deployment.

CoreWeave Rises After New Anthropic Partnership

CoreWeave stock closed up 10% on April 10. The move came after the company expanded its work with Anthropic, which focuses on supporting large-scale AI operations.

CoreWeave stock price movement. Source: Benzinga

CoreWeave said the deal will support workloads at production scale and begin with a phased rollout, with room to expand over time. According to a CNBC report, the partnership will also power Anthropic's Claude AI models, though financial terms were not disclosed. Anthropic is also exploring the design of its own semiconductors to reduce reliance on external chip suppliers. 

CoreWeave Builds Scale Across Leading AI Companies

CoreWeave has expanded its partnerships across the AI industry. The company recently expanded its agreement with Meta Platforms Inc. (META), securing an additional $21 billion on top of a $14.2 billion deal from September. Meta has also used external Google Tensor Processing Units as part of its infrastructure strategy. 

CoreWeave said nine of the leading ten AI model providers now use its platform. Its infrastructure is built around large clusters of Nvidia graphics processing units, enabling support for complex computing operations. 

Chips and Compute Demand Rise Across Big Tech Firms

Anthropic said on Monday, April 6, that its annualized revenue run rate topped $30 billion, rising from $9 billion at the end of 2025. Anthropic, Meta, and OpenAI are increasing compute usage to support their expanding AI systems, driving higher demand for external providers such as CoreWeave. 

Additionally, Microsoft Corp. (MSFT), Amazon.com Inc. (AMZN), and Alphabet Inc. (GOOGL) are continuing to invest in internal chip development while still relying on third-party infrastructure.

However, Amazon and Google have continued developing in-house chips for cloud and AI workloads, while Microsoft has also introduced custom silicon designed to support its systems. CoreWeave CEO Mike Intrator said the company is focused on scaling its infrastructure to meet rising demand, noting that expansion comes with high cost.


Mike Intrator, CEO of CoreWeave. Source: CoreWeave

CoreWeave is trading around $101.96, up 10.87%. Analysts currently have a consensus rating of 3.4, which translates to a “Hold” recommendation.