CoreWeave’s (CRWV) stock surged 25% on Tuesday and climbing another 5% pre-market, bringing its year-to-date gains to a staggering 276%, following news of a $7 billion infrastructure deal with Applied Digital.

CoreWeave Inc (NASDAQ:CRWV) and Applied Digital Corp (NASDAQ:APLD) and trending on Wednesday and seeing increased investor attention on social platforms. Here's a look at what's going on.

CoreWeave and Applied Digital have signed two long-term lease agreements for artificial intelligence data centers, according to a release. Shares of Nvidia-backed CoreWeave climbed more than 7%, while Applied Digital shares rose more than 40%.