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CoreWeave Stock Gains 8% as Wall Street Initiates Bullish Coverage

The Nvidia-backed AI infrastructure leader receives price targets up to $54, despite trading below its IPO price and facing concerns over volatility and client concentration.

A screen displays the company logo for CoreWeave, Inc., Nvidia-backed cloud services provider, during the company's IPO at the Nasdaq Market, in New York City, U.S., March 28, 2025. REUTERS/Brendan McDermid
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Overview

  • CoreWeave shares rose 8% to $38.12 on April 22, following bullish coverage from major Wall Street brokerages.
  • Goldman Sachs set the highest price target at $54, while J.P.Morgan issued a more cautious $43 target, citing volatility risks.
  • The company operates 32 data centers with over 250,000 Nvidia GPUs, reinforcing its leadership in AI infrastructure.
  • CoreWeave's $11.9 billion contract with OpenAI and reliance on its top two clients for 77% of revenue were highlighted as key risks.
  • Despite trading below its $40 IPO price, analysts remain optimistic about CoreWeave's position in the growing AI compute market.