CoreWeave (CRWV) Upgraded: Strong Demand, Supply Shortages Make It a Growth Play

Core View - CoreWeave, Inc. (NASDAQ:CRWV) has been upgraded by Wells Fargo analyst Michael Turrin from Equal Weight to Overweight, with a new price target of $170.00, up from $105.00, indicating strong confidence in the company's growth potential [1][3] Demand and Market Position - CoreWeave is expected to benefit from an elevated build cycle and ongoing hyperscale industry shortages that are projected to last until 2026, which may allow the company to capture additional market share [1][3] - The company has strong demand signals and major customers, which, combined with supply shortages and Nvidia's backing, position it as a significant growth winner in the AI sector [2][3] Strategic Backing - Nvidia's recent commitment to purchase all unused capacity through 2032 provides CoreWeave with a "blank check" to expand its operations and build new capacity for over six years [2][3] - The presence of major customers, including Microsoft and Google, further enhances CoreWeave's market position, with a notable $0.5 billion accounts receivable disclosure from a third unnamed customer, believed to be Google [3]