CoreWeave (CRWV) shares soared 19% Wedn🍷esday after the company announced an upsized $2 ꦚbillion debt offering.

The Nvidia (NVDA)-backed cloud computing company's offering consisted of senior notes with a 9.25% interest rate due in 2030, according to a statement, and was $500 million larger than CoreWeave initially planned. The company reportedly told CNBC that the deal was five times oversubscribed.

CoreWeave said it intends to use proceeds from the offering to repay existing debt, among other corporate purposes.

The news comes after CoreWeave last week posted first-quarter revenue that grew 澳洲幸运5官方开奖结果体彩网:more than 400% year-over-year. It was the company's first quarterly report since its 澳洲幸运5官方开奖结果体彩网:initial public offering.

CoreWeave makes money by providing its clients with access to data centers, which are used to develop artificial intelligence models. The company’s data centers are equipped with highly coveted chips from Nvidia, which held a roughly 7% stake in CoreWeave as of the end of March, a filing last week showed. 

With Wednesday's gains, CoreWeave's stock has nearly tripled in value since the company 澳洲幸运5官方开奖结果体彩网:went public in March.