On August 27, CoreWeave, Inc. rose 3.77% in regular trading, trading at approximately $89.70/share, with turnover of $189 million. Multiple catalysts converged to drive the stock higher during the session.
On the news front, Truist recently raised its target price on CoreWeave to $165, implying significant upside from current levels. Meanwhile, NVIDIA is scheduled to report its fiscal second-quarter earnings after market close on Wednesday, with optimistic expectations around AI computing demand lifting sentiment across AI cloud service providers. Additionally, CoreWeave announced a partnership with Rescale to extend its AI-optimized cloud services into engineering simulation workloads, broadening its customer ecosystem.
Institutional coverage remains broadly supportive. Goldman Sachs previously raised its target price from $121 to $139, citing revenue backlog growth of 5% quarter-over-quarter to $104 billion and active power capacity expanding from 1GW to over 1.5GW. Bank of America Securities maintained a Buy rating with a $140 target, noting favorable pricing dynamics and longer-than-expected economic life for older GPU assets. CoreWeave also recently signed a multibillion-dollar multiyear agreement with Hudson River Trading for AI cloud services using NVIDIA Vera Rubin NVL72 systems.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)