CoreWeave (CRWV), an AI cloud services provider, saw its stock rise again on Monday, surging as much as 11.9% during trading before settling to an 8.3% gain at $110.27 as of 12:38 p.m. Eastern Time. Following a 24% increase last week, the stock continues to be a focal point in the AI sector.
Last Thursday, CoreWeave announced the expansion of an existing long-term agreement with Meta Platforms (META), with Meta committing $21 billion through 2032. The following day, the company revealed that leading AI lab Anthropic had become a client. Although specific financial terms were not disclosed, CoreWeave stated that the deal would be implemented in phases and has the potential to expand in scale in the future. Alongside these two client announcements, the company also raised funds through convertible bonds and senior notes. Due to strong investor enthusiasm, both offerings exceeded original plans: the convertible bond offering was increased from $3 billion to $3.5 billion, and the senior note offering was raised from $1.25 billion to $1.75 billion.
The positive news from last week prompted sell-side analysts at firms including Bank of America, Macquarie Bank, D.A. Davidson, and Roth Capital to upgrade their ratings on CoreWeave stock on Monday. Macquarie analyst Paul Golding raised his price target from $90 to $125, stating that the company’s recent announcements confirm its differentiated platform, unique hardware resources, and strategic positioning within the AI ecosystem. He also noted that the growing trend toward compute diversification could mean CoreWeave is becoming increasingly important to hyperscale data center operators. D.A. Davidson raised its price target to a range of $125 to $175, Bank of America raised its target from $100 to $120, and Roth Capital raised its target from $110 to $135.
The agreement with Anthropic is significant, as Anthropic has become one of the most powerful AI platforms today following the limited release of its Mythos model. Additionally, media reported on Sunday that CoreWeave had raised prices by approximately 20% by the end of 2025 and is requiring clients to sign longer-term contracts. The market expects CoreWeave’s revenue to grow from $5.1 billion in 2025 to $12.5 billion in 2026, and further to $23.5 billion in 2027. However, the company has not yet achieved profitability, and it is anticipated that quarterly profitability may not be possible until as late as the end of 2027 at the earliest.
