CoreWeave Inc. (CRWV) shares extended their rally Monday, building on momentum that kicked off late last week. The AI infrastructure company has been one of the market's standout performers, and there are a few meaty reasons why.
The Government Contract That Changed Everything
The primary catalyst appears to be CoreWeave's Dec. 18 announcement that it joined the Department of Energy's Genesis Mission. This isn't just another corporate press release to pad the quarterly highlights reel. Under this initiative, CoreWeave will supply its AI cloud platform to accelerate U.S. scientific discovery and energy innovation—think national labs, breakthrough research, the kind of stuff that actually matters.
The partnership highlights the expanding role of CoreWeave Federal, a subsidiary built specifically to deliver secure, FedRAMP-compliant infrastructure for government agencies and the Defense Industrial Base. In other words, CoreWeave is positioning itself as a trusted infrastructure provider for Uncle Sam's most sensitive projects.
Commercial Deals Add Fuel
Government contracts are great, but commercial momentum is what really gets investors excited. Earlier in December, CoreWeave announced a strategic agreement with Runway to power next-generation AI video models. The deal leverages CoreWeave's Nvidia GB300 NVL72 systems for large-scale training and inference—basically the heavy machinery needed to build cutting-edge AI video technology.
These wins have helped CoreWeave recover from losses it sustained earlier this month after pricing an upsized $2.25 billion convertible senior notes offering. Capital raises can be dilutive and typically spook investors in the short term, but the market's attention has shifted back to CoreWeave's expanding footprint as a critical infrastructure provider for both commercial innovators and national security interests.
Where the Stock Stands
CoreWeave shares were up 2.78% at $85.27 Monday. The stock is currently trading about 13.8% below its recent peak, which puts potential resistance around $99.85. That level could be worth watching—if shares can break through and hold above it, that might signal renewed bullishness and open the door for further upside.