Key Highlights
- CRWV shares surged more than 10% Monday following a 10.87% Friday rally
- DA Davidson boosted price target 40% from $125 to $175
- CoreWeave emerging as preferred cloud provider for leading AI companies
- Nine of the top ten AI model developers now using CoreWeave infrastructure
- Pro-forma backlog reaches approximately $87.8 billion
CoreWeave shares continued their impressive run this week, adding over 10% on Monday following a nearly 11% surge on Friday. The momentum comes as Wall Street analysts express growing confidence in the company’s position following two significant customer announcements.
CoreWeave, Inc. Class A Common Stock, CRWV
The momentum stems from a long-term cloud infrastructure partnership with Anthropic, disclosed soon after CoreWeave announced an extended $21 billion arrangement with Meta.
DA Davidson’s Alex Platt highlighted the Anthropic partnership as evidence that “CoreWeave is becoming the neocloud of choice” among premier AI developers. The analyst increased his price target dramatically—up 40% from $125 to $175—suggesting nearly 60% potential upside from recent trading levels.
Cantor Fitzgerald maintained its bullish stance as well, confirming its Overweight rating alongside a $149 price target following the Meta announcement. Analyst Brett Knoblauch emphasized the significance of Meta’s long-term commitment both in scale and timeline.
The Meta arrangement represents a substantial expansion. The $21 billion pledge covers fresh computing infrastructure through December 2032 and encompasses the activation of a prior option for supplementary capacity extending through April 2032. Combined, CoreWeave’s total Meta commitments now reach $35.2 billion.
The Anthropic agreement brings another prominent player to CoreWeave’s roster. The infrastructure provider now serves nine among the top ten AI model developers globally. Computing resources associated with the Anthropic deal are scheduled to launch later this year.
Growing Wall Street Confidence
Macquarie’s Paul Golding joined the optimistic commentary, characterizing the Anthropic collaboration as proof that CoreWeave’s “ecosystem is becoming structural.” Such terminology indicates analysts view these partnerships as foundational relationships rather than short-term arrangements.
Among Wall Street firms tracking CRWV, the consensus stands at Moderate Buy, reflecting 14 Buy ratings, eight Hold ratings, and one Sell rating from 23 analysts surveyed over the previous three months. The average price target of $120.10 suggests approximately 9% upside potential from present levels—though multiple individual projections now exceed that figure substantially.
Shares have climbed 133% over the trailing twelve months and recently surpassed $102. InvestingPro calculates Fair Value at $98.09, indicating the stock currently trades modestly above that benchmark.
Past Challenges
The journey hasn’t been entirely without obstacles. CoreWeave previously encountered investor skepticism regarding its scalability. Legal action alleged the company exaggerated its operational capabilities while understating dependence on third-party developers for data center construction.
Those worries seem to have faded as the company secures major contracts.
CoreWeave generated $5.1 billion in revenue over the trailing twelve months, representing 168% year-over-year growth. Wall Street projects 144% revenue expansion this year, although profitability remains elusive.
The company also recently completed a $3.5 billion private placement of convertible senior notes maturing in 2032, expanded from an originally planned $3 billion offering.
CoreWeave’s total pro-forma backlog currently stands at approximately $87.8 billion.
