CoreWeave Inc. (CRWV) is accelerating its push in AI infrastructure, with a rising backlog from OpenAI contracts and a significant $9 billion acquisition of Core Scientific, Inc. (CORZ). Analyst Thomas Blakey from Cantor Fitzgerald has initiated coverage with a price target of $116, emphasizing CRWV’s strategic positioning in the expanding AI market, especially in large language model training and inference. CoreWeave stands out as a software-driven hyperscaler, expected to outperform broader Infrastructure as a Service (IaaS) trends. Despite a robust growth outlook, risks such as customer concentration and power constraints remain. Blakey noted a surge in performance obligations, growing from $15.1 billion to $30.1 billion by mid-2025, half linked to OpenAI contracts. The acquisition could enhance CoreWeave’s capabilities in high-performance computing. Currently, CRWV shares have risen by 6.07%, trading at $96.96. For more insights, stay updated on AI market developments.
Source link
