CoreWeave (NASDAQ: CRWV) shares rose 3.56% to $61.69 in Wednesday’s premarket trading after the AI cloud provider announced Tuesday that it had brought most of its planned 22.5 megawatts (MW) of IT capacity online in Denmark and planned to expand its global network into the Middle East and Asia Pacific.
Blackwell Systems at Danish Site; Network Points Planned Across Seven Countries
CoreWeave’s first Danish deployment is located at atNorth’s DEN01 data center in Copenhagen. The facility uses NVIDIA Blackwell systems connected through NVIDIA Quantum-X800 InfiniBand technology, expanding the company’s European footprint to nine data centers across five countries.
The DEN01 facility also has an agreement to supply surplus heat to the local district heating network.
Beyond Denmark, CoreWeave plans to establish new network connection points in the United Arab Emirates, India, Indonesia, Singapore, Australia, South Korea and Japan.
The rollout is scheduled to begin later in the fourth quarter of 2026, with a complete interconnected network loop targeted for mid-2027.
The expansion will extend CoreWeave’s existing network beyond North America and Europe to span four continents. CoreWeave said its existing network connects 51 active data centers, representing more than 1.5 gigawatts of active power.
CoreWeave describes the expanded backbone as the first global network purpose-built for AI workloads at petabit scale. Each network connection point will use multiple 400-gigabit-per-second links, hardware-based encryption, and redundant routes designed to keep data moving securely between regions if individual connections fail.
CoreWeave Chief Operating Officer Sachin Jain said the expansion is intended to give customers reliable access to computing capacity and allow them to transfer data and workloads between locations without managing the underlying network infrastructure.
CoreWeave Shares Recover as Debt Concerns Remain in Focus
CoreWeave gained 7.94% in Tuesday’s regular session after a 1.76% gain on Monday, bringing its cumulative two-session rise to about 9.8%.
Despite that recovery, the stock’s Tuesday closing price of $59.57 remained about 31.6% below its September 30 close of $87.12. Shares also touched a 52-week low of $51.24 during Monday’s trading.
Separately, CoreWeave Tokenized bStocks (CRWVB), a tokenized instrument distinct from the Nasdaq-listed shares, was trading at $61.64, up 8.66% over the past 24 hours, according to CoinMarketCap.
The rebound follows heavy selling pressure linked to concerns over the borrowing used to finance CoreWeave’s AI infrastructure expansion. Earlier in October, Reuters reported that yields on some of the company’s bonds had climbed to approximately 15% to 16%, levels associated with distressed debt.
Oppenheimer analyst Param Singh reiterated an Outperform rating and $150 price target on Tuesday, arguing that the bond selloff overstated CoreWeave’s financial risks.
In a hypothetical liquidation analysis, Oppenheimer estimated approximately $83 billion in recoverable assets against $42 billion in pro forma debt and $37 billion in other liabilities. Based on those assumptions, the firm concluded that unsecured bondholders could recover their claims in full.
Crusoe Chief Executive Officer Chase Lochmiller also defended AI infrastructure providers at Bloomberg Invest in Dallas on Tuesday, describing the recent sector selloff as an overreaction.
Lochmiller said CoreWeave had made “some very good deals” and was, in his view, in a good position. He cautioned that higher costs for new debt could slow its growth, while noting that he did not know all the exact details of competitors’ contracts and loan agreements.