On August 27, CoreWeave, Inc. rose 5.25% overnight, trading at $92.62/share, with turnover of $100,700. The rally was driven by Truist raising its target price on CoreWeave to $165, implying significant upside from the current level, while optimistic market expectations ahead of NVIDIA's fiscal Q2 earnings report scheduled for Wednesday after-hours further boosted sentiment across AI cloud service providers.
Multiple institutions have recently expressed bullish outlooks on CoreWeave. Goldman Sachs raised its 12-month target from $121 to $139, citing demand consistently outpacing supply and new-generation GPU pricing remaining elevated. Bank of America Securities maintained a Buy rating with a $140 target, noting favorable pricing dynamics and longer-than-expected economic lifespans for older GPU assets. Additionally, CoreWeave announced a partnership with Rescale to extend AI-optimized cloud services into engineering simulation workloads, broadening its customer ecosystem beyond core AI training and inference 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.)