CoreWeave, Inc. has expanded its European footprint through a co-location agreement with Conapto, a provider of scalable and sustainable data centers. The partnership establishes AI cloud infrastructure across two campuses in Stockholm, with initial capacity already operational at Stockholm 4 South. Both campuses will be powered entirely by renewable energy sources, providing high-performance compute, networking, and storage designed for modern AI workloads.

The Stockholm deployment leverages NVIDIA Blackwell Architecture and NVIDIA Vera Rubin Platforms connected with NVIDIA Quantum-X800 InfiniBand. This infrastructure aims to support AI labs, enterprises, and developers across Europe as demand for scalable AI production accelerates. The agreement brings CoreWeave’s total number of European sites to eight.

Strategic Expansion and Sustainability

Sachin Jain, chief operating officer of CoreWeave, highlighted the strategic importance of the Swedish market. "Sweden has been central to CoreWeave’s European strategy since our first continental investment," Jain stated. He noted that Conapto’s local expertise and sustainable energy profile enable the delivery of urgent high-performance AI compute with the reliability and environmental credentials required by enterprise deployments.

Håkan Björklund, CEO of Conapto, emphasized the alignment of advanced infrastructure with sustainability goals. "Combined with our commitment to 100 percent renewable energy and heat recovery to Stockholm's district heating network, this partnership demonstrates how advanced AI infrastructure and sustainability can go hand in hand," Björklund said.

Global Infrastructure Metrics

As of March 31, 2026, CoreWeave operates a significant global network to support AI workloads at scale. The company reports the following operational metrics:

CoreWeave and Conapto are scheduled to participate at the Tech Arena at Almedalen on 25 June to discuss Sweden’s role in AI infrastructure and Europe’s evolving capacity requirements.

CoreWeave Inc. shares traded lower on Tuesday as investors digested a series of recent catalysts, including the company's official entry into the Nasdaq-100 Index and a new storage partnership. The stock had previously surged approximately 20% during the week, fueled by the index rebalance which became effective before the market opened on June 22, 2026. This inclusion forces buying from passive funds and ETFs tracking the index, such as the QQQ, which manages over $300 billion in assets.

The recent rally was also supported by Cantor Fitzgerald, which reiterated its Overweight rating and $167 price target. The firm highlighted run-rate EBITDA of $18.76 billion, up from $16.10 billion in April, and modeled an implied backlog of $125 billion with a path to more than $131 billion by the end of Q2 2026. Cantor Fitzgerald argued the market is "woefully undervaluing" CoreWeave and the broader "neocloud" group.

Operational Highlights and Partnerships

CoreWeave announced record-breaking results in the MLPerf Training v6.0 benchmark suite, training the DeepSeek-V3 671B model in approximately two minutes using 8,192 NVIDIA GB300 NVL72 GPUs. The company stated this demonstrated near-linear scaling efficiency on infrastructure currently available to customers. Additionally, CoreWeave secured a five-year, $335 million "multi-exabyte" agreement to expand HDD-based tiers inside its AI Object Storage, requiring no code modifications for existing customers.

Financial Positioning

To support its operations, CoreWeave priced a private offering of $1.25 billion of 9.625% senior notes and 2 billion euros of 8.500% senior notes. Both notes are due in 2032, with the offering expected to close on June 18, 2026. Proceeds are designated for general corporate purposes, including debt repayment.

Technical Analysis and Outlook

From a technical perspective, CoreWeave is holding above its major long-term moving averages, trading about 2% above the 20-day SMA ($108.08) and 1.5% below the 50-day SMA ($111.94). The stock remains above its 100-day SMA ($98.81) and 200-day SMA ($100.62), keeping the broader uptrend intact. The Relative Strength Index (RSI) sits at 51.84, indicating a neutral market condition. Key resistance is identified near $132.00, while support stands around $103.00. At the time of publication, CoreWeave shares were down 3.36% at $107.55.