CoreWeave, Inc. (NASDAQ:CRWV) stock climbed sharply on Thursday as NVIDIA Corp.'s (NASDAQ:NVDA) AI-driven earnings took center stage.
CoreWeave's landmark $4 billion funding for its new Pennsylvania data center and a series of optimistic analyst upgrades added fuel to the stock's fire.
- CRWV stock is climbing. See the real-time chart here.
NVDA Q2
Nvidia reported revenue of $46.74 billion, up 56% year-over-year, with Blackwell data center revenue growing 17% from the prior quarter.
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Demand for AI accelerators and cloud data center GPUs, which benefit partners like CoreWeave, continued to fuel Nvidia's record-breaking financial performance.
CoreWeave's growth is directly linked to its integration of Nvidia GPU infrastructure for AI compute, making both companies primary beneficiaries of booming enterprise AI adoption.
Nvidia also owns a stake in CoreWeave, highlighting their intertwined business relationship and mutual goals in developing advanced AI cloud technology.
CRWV Analyst Coverage
New analyst coverage from Cantor Fitzgerald with an Overweight rating and $116 price target was also pushing CoreWeave's stock higher on Thursday.
Other recent analyst upgrades have added momentum:
Last week, H.C. Wainwright shifted CoreWeave's rating to Buy and raised its price target to $180, citing attractive long-term fundamentals despite market volatility and lock-up expiration pressures.
Arete Research also upgraded the stock to a Strong Buy, and Mizuho lifted its price target to $150, reflecting broad optimism across Wall Street.
Key Takeaway: Nvidia's AI revenue boom, CoreWeave's infrastructural investments and strong analyst sentiment point to a turnaround for CoreWeave stock.
CRWV Stock Price: According to data from Benzinga Pro, CoreWeave shares were up 7.60% at $104.30 at the time of publication on Thursday.
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