CoreWeave, Inc. (NASDAQ:CRWV) announced an expanded collaboration with Nvidia Corporation (NASDAQ:NVDA) to accelerate the buildout of more than 5 gigawatts of AI factories by 2030 to advance AI adoption at global scale.
As part of the broader partnership, NVIDIA invested $2 billion in CoreWeave Class A common stock at a purchase price of $87.20 per share. The companies said the investment reflects NVIDIA’s confidence in CoreWeave’s business, team and growth strategy as a cloud platform built on NVIDIA infrastructure.
Under the collaboration, CoreWeave plans to build and operate AI factories using NVIDIA’s accelerated computing platform technology. NVIDIA will also leverage its financial strength to help accelerate CoreWeave’s procurement of land, power and shell infrastructure for AI factory development.
CoreWeave shares closed at $98.31 on Monday.
These analysts made changes to their price targets on CoreWeave following announcement.
- Deutsche Bank analyst Brad Zelnick upgraded CoreWeave from Hold to Buy and raised the price target from $100 to $140.
- Mizuho analyst Gregg Moskowitz maintained the stock with a Neutral and raised the price target from $92 to $100.
Considering buying CRWV stock? Here’s what analysts think:
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