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Analysts Divided on CoreWeave’s Prospects Despite Diversification Efforts
Analysts Divided on CoreWeave’s Prospects Despite Diversification Efforts
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Wall Street's sentiment toward AI infrastructure firm CoreWeave is shifting as new deals dilute its reliance on Microsoft, previously accounting for over 70% of revenue. A $14.2 billion agreement with Meta Platforms marks a pivotal step in customer diversification.
Evercore ISI initiates coverage with a Buy rating and $175 target, betting on demand converting to profits. Yet skepticism persists: Hedgeye's Felix Wang maintains a short position, while D.A. Davidson's Gil Luria warns of 70% downside risk, citing unsustainable cash burn and costly AI chip leases. "They're destroying value with every data center," Luria asserts.
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