CoreWeave Inc. (NASDAQ:CRWV) shares are up approximately 20% this week as the AI cloud company made headlines on multiple fronts—from a Nasdaq-100 inclusion to record-breaking AI training results.

Nasdaq-100 Inclusion

The week’s first major development came on June 12 when Nasdaq announced its quarterly index reconstitution, with CoreWeave set to join the Nasdaq-100 before market open on Monday, June 22. CoreWeave joins Astera Labs, Nebius Group, Rocket Lab, and Teradyne in the rebalance, replacing Charter Communications, Cognizant, Insmed, Verisk Analytics, and Zscaler. The addition is expected to drive significant buying from passive funds and ETFs tracking the index — including the QQQ, which manages over $300 billion in assets—as they are required to add CRWV to their portfolios before the effective date.

The Cantor Fitzgerald Call

On June 16, Cantor Fitzgerald reiterated its Overweight rating and $167 price target, saying the market is significantly underestimating CoreWeave and the broader neocloud sector. The firm pointed to a disclosure in CoreWeave’s June bond offering memorandum showing run-rate EBITDA of $18.76 billion, up from $16.10 billion in April, and used that data to model implied backlog of approximately $125 billion as of early June, with a potential path to more than $131 billion by the end of Q2 2026.

Record MLPerf Results

CoreWeave announced record-breaking results in the MLPerf Training v6.0 benchmark suite. Running on the same cloud infrastructure available to customers today, CoreWeave trained DeepSeek-V3 671B, one of the most computationally demanding AI models ever benchmarked, in approximately two minutes on 8,192 NVIDIA GB300 NVL72 GPUs, the largest GB300 cluster submitted in this benchmark round.

The results demonstrated near-linear scaling efficiency as cluster size doubled, a validation of CoreWeave’s full-stack optimization approach. Crucially, the company emphasized these were not benchmark-only configurations—the same infrastructure customers use in production today.

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CoreWeave Shares Edge Higher

CRWV Price Action: At the time of publication, CoreWeave shares are trading 3.16% higher at $118.85, according to data from Benzinga Pro.

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