CoreWeave Is Winning Over Wall Street Amid Flurry of New Deals

Core View - Wall Street is increasingly optimistic about CoreWeave Inc. following new business deals that alleviate concerns about its financial losses [1][3] Analyst Sentiment - Nearly half of analysts now have buy-equivalent ratings for CoreWeave, a significant increase from less than 20% in mid-July [2] - The shift in sentiment is attributed to recent agreements with companies like OpenAI, reducing fears of over-reliance on Microsoft, which accounted for over 70% of CoreWeave's revenue as of June [3] Business Developments - CoreWeave announced it will provide Meta Platforms Inc. with up to $14.2 billion in computing power, contributing to a 33% stock gain in September [3] - The company has gained over 230% since its IPO in March, although it remains down 27% from its June peak [6] Market Position - Analysts from Evercore ISI initiated coverage of CoreWeave with an outperform rating, projecting a 12-month price target of $175, indicating a potential gain of over 25% from recent closing prices [7] - The demand for AI computing services is expected to drive future profits, as noted by industry experts [4][5]