On August 26, CoreWeave, Inc. rose 5.32% in after-hours trading, trading at $92.74/share, with turnover of $213 million. The move was driven by a confluence of positive catalysts including a significant analyst upgrade and broader AI sentiment tailwinds.
Truist raised its target price on CoreWeave to $165, representing substantial upside from current levels. This marks the second recent upgrade from the firm, which had previously set a $155 target in mid-August. The bullish call follows earlier upgrades from Goldman Sachs (to $139, neutral) and Bank of America (buy, $140 target), reflecting growing institutional confidence in the AI cloud infrastructure provider's revenue trajectory.
Additionally, NVIDIA is scheduled to report second-quarter results on Wednesday after market close, with optimistic expectations around AI compute demand lifting sentiment across AI cloud service providers. CoreWeave also announced a partnership with Rescale to extend its AI-optimized cloud services into engineering simulation workloads, further diversifying its customer base beyond core AI training use cases.
(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.)