Anthropic is leasing the power of "Nvidia protégé" CoreWeave for AI. Its stock is rising

AI company Anthropic is leasing CoreWeave data center capacity, according to a statement from the AI cloud computing provider. Financial details of the deal were not disclosed. The previous day, CoreWeave entered into a similar agreement with Meta for about $21 billion.

The company's shares jumped nearly 6% at one point in the premarket on April 10 before slowing down.

A multi-year agreement with CoreWeave will help Anthropic build and deploy Claude's AI models, the cloud computing provider said in a statement. The capacity will include various Nvidia chip architectures in data centers across the U.S., CoreWeave CEO Michael Intrator explained, Bloomberg writes.

Thanks to the agreement with Anthropic, CoreWeave's customers now include four major AI model developers, the top executive pointed out: Anthropic, OpenAI, Google and Meta.

The companies declined to disclose the financial terms of the deal. Anthropic CoreWeave will start providing computing power later this year, according to its release.

The company has a close relationship with artificial intelligence chip leader Nvidia, Barron's wrote. In particular, CoreWeave's data centers exclusively use the vendor's hardware, and Nvidia itself acts as CoreWeave's investor, customer and key supplier.

The day before CoreWeave announced that it had entered into a multi-year agreement on the lease of computing power for AI with Meta Platforms. The value of the deal was estimated at almost $21 billion. Against this background, at the end of the session on April 9, CoreWeave securities grew by 3.49%. Since the beginning of the year, they have gained more than 28%, with CoreWeave shares adding more than 23% over the past month.

The growth of the company's shares has led to the fact that the losses of short sellers, who bet on the fall of CoreWeave securities, since the beginning of the year reached about $955 million, according to data from the analytical firm S3 Partners, writes CNBC. However, despite this, the researchers note, about 59 million shares of the cloud computing provider remain sold "short" (this is about 18.4% of the total number of CoreWeave securities in circulation).

Of the 35 Wall Street analysts who monitor the company's securities, 20 advise buying CoreWeave shares (Buy and Overweight ratings), according to MarketWatch. 13 recommend holding them in a portfolio and two recommend selling them (Underweight and Sell ratings). Analysts' consensus price target for CoreWeave securities is $110 apiece, suggesting they are up more than 19% from the last closing price.

This article was AI-translated and verified by a human editor