On August 4, CoreWeave, Inc. rose 6.09% in regular trading, trading at $90.59/share with turnover of $890 million. The stock extended gains from earlier sessions as multiple bullish catalysts converged.

On the news front, CoreWeave announced its first expansion into the Asia-Pacific region, with plans to build and operate three new data centers in Indonesia totaling 360 megawatts of contracted IT power, expected to come online in 2028. The investment is projected to create tens of thousands of jobs. The company noted that its AI compute capacity for this year is essentially sold out. Separately, Piper Sandler initiated coverage of CoreWeave with an Overweight rating and a $151 price target, while the consensus mean target stands at $138.40.

Additional tailwinds include Morgan Stanley forecasting global cloud capex reaching $1.2 trillion by 2027, up $170 billion from prior estimates, and ARK Invest deploying $15.5 million to buy CoreWeave shares during the prior week's pullback. The company is scheduled to report Q2 earnings on August 11, with Oppenheimer expecting revenue at the high end of its $2.45-$2.60 billion guidance range.

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