CoreWeave Scores $14.2 Billion Contract with Meta
CoreWeave signed a huge $14.2B deal to supply Meta with Nvidia AI power, highlighting the high cost of the AI race.
CoreWeave signed a huge $14.2B deal to supply Meta with Nvidia AI power, highlighting the high cost of the AI race.
CoreWeave received an Outperform rating and a $175 price target from Evercore ISI.
Wells Fargo significantly raised its rating and price target for CoreWeave, moving the stock to Overweight and citing "multiple" factors that signal strong growth potential.
CoreWeave scored a $6.3 billion cloud deal with Nvidia! Nvidia will buy CoreWeave's unused cloud capacity until 2032, deepening their partnership. Nvidia also owns a stake in CoreWeave and supplies its GPUs, easing concerns about CoreWeave's data center costs.
CoreWeave thrives amid immense AI compute demand & Nvidia supply constraints. As an Nvidia partner with preferential GPU access, CoreWeave provides overflow access, turning Nvidia's Q2 earnings (due to supply issues) into a positive for CoreWeave's growth.
CoreWeave faces a profitability precipice despite surging AI demand, amid record losses, soaring expenses, and massive capital expenditures.