On August 27, CoreWeave, Inc. rose 5.12% in pre-market trading, trading at $92.68/share, with turnover of $3.714 million. The rally was primarily driven by Truist raising its target price on CoreWeave to $165, representing significant upside from current levels, while anticipation of NVIDIA's fiscal Q2 earnings report scheduled for Wednesday after market close further boosted AI cloud services sentiment.

Multiple institutions have recently issued bullish calls on CoreWeave. Goldman Sachs lifted its 12-month target from $121 to $139, citing Q2 revenue meeting expectations with EBIT margins exceeding consensus by 200 basis points, while Bank of America Securities maintained a Buy rating with a $140 target, noting favorable pricing dynamics and extended economic life of older GPU assets. CoreWeave's revenue backlog grew 5% sequentially to $104 billion, with over $25 billion in new committed orders since Q3 began.

Additionally, CoreWeave announced a partnership with Rescale to extend its AI-optimized cloud services into engineering simulation workloads, broadening its customer ecosystem beyond core AI training and inference. The company also recently signed a multibillion-dollar multiyear agreement with Hudson River Trading for AI-driven research infrastructure.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)