CoreWeave has secured a multi year agreement with artificial intelligence developer Anthropic to run workloads for its Claude AI models. The partnership will be introduced in phases, with the possibility of expanding as demand for computing power increases.
Following the announcement, CoreWeave shares jumped more than 12%, trading near $102.73. The deal also strengthens the company’s role in supporting major AI developers, as it reported serving nine of the ten largest builders of large language models.
$8.5 Billion Funding Boost Signals Shift From Crypto Mining
The agreement comes after CoreWeave raised $8.5 billion in financing led by Meta Platforms. Unlike traditional crypto mining loans backed by graphics hardware, the funding was secured using deployed computing capacity tied to predictable revenue streams.
CoreWeave originally operated in cryptocurrency mining but shifted focus to AI infrastructure in 2019 following the downturn that followed the 2018 Crypto Market Crash.
Bitcoin Mining Profitability Pressures Drive AI Transition
Rising energy costs, shrinking mining rewards and falling asset prices have forced many Bitcoin miners to explore AI computing opportunities. According to asset manager CoinShares, as many as 20% of miners are currently operating at a loss.
Market pressures intensified after the October 2025 Crypto Market Crash, when Bitcoin fell from about $126,000 to the low $60,000 range before stabilizing near $73,000. Analysts, including Ran Neuner, note that AI data centers now compete directly with miners for electricity, often offering higher returns.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.