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CoreWeave Stock Surges as Big Tech AI Spending Accelerates
CoreWeave Stock Surges as Big Tech AI Spending Accelerates
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BTCCSquare news:
CoreWeave shares soared 12.4% as Microsoft and Meta's earnings revealed unabated AI infrastructure investments. The AI cloud provider stands to benefit from Microsoft's planned $30 billion Q3 capex—a 60% overshoot versus analyst expectations—as its primary customer aggressively scales GPU-accelerated computing capacity.
Citi upgraded CoreWeave to 'buy' with a $160 price target, citing insatiable demand for specialized AI cloud services. While hyperscalers race to build in-house infrastructure, supply constraints persist—CoreWeave's Nvidia H100-powered clusters remain critical stopgap solutions for enterprises deploying large language models.
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