Why CoreWeave Stock Rocketed Higher in September

Core Points - CoreWeave (NASDAQ: CRWV) experienced a significant stock increase of 32.8% in September, driven by strong demand for its AI cloud services [1] - The company announced over $20 billion in new contract value in September, in addition to nearly $16 billion already contracted with a customer [1][8] - CoreWeave expanded its agreement with OpenAI by up to $6.5 billion, bringing the total value of the contract to over $22 billion [3][4] - A new agreement worth approximately $14.2 billion for AI cloud infrastructure was also announced, expanding the existing relationship with Meta Platforms [4][5] - CoreWeave Ventures was launched as a new initiative to support AI technology development, with two acquisitions already announced [6] - The company reported a revenue backlog exceeding $30 billion as of the end of Q2, with a market cap nearing $70 billion and over $10 billion in total debt [7]