Barclays Analyst Maintains ’Hold’ on CoreWeave Despite $6.5B OpenAI Deal

Barclays' top analyst Raimo Lenschow reaffirmed his 'Hold' rating on CoreWeave (CRWV) stock, even as the cloud infrastructure provider secured a $6.5 billion expanded partnership with OpenAI. The deal, which follows a similar $4 billion agreement in May 2025, will support OpenAI's advanced AI model training. Lenschow's cautious stance likely reflects concerns over CoreWeave's 240% year-to-date rally and stretched valuation.

The analyst retained his $140 price target, suggesting modest 10.5% upside. CoreWeave's total contract value now stands at $22.4 billion, cementing its position as a key player in AI infrastructure. Lenschow, ranked among TipRanks' top 5% of analysts, noted the May 2025 agreement could serve as a blueprint for understanding the new deal's structure amid limited disclosure.