CoreWeave Rebounds After Goldman Sachs Upgrade
On October 19, CoreWeave (CRWV) rebounded slightly after Goldman Sachs upgraded the stock to Buy with a $139 price target. The AI cloud infrastructure provider had been trading near its 52-week lows due to concerns over debt levels and bond stress highlighted by Reuters earlier in the week. Goldman Sachs expressed confidence that CoreWeave's average recurring revenue per megawatt is likely to rise, driven by tight supply of neocloud infrastructure. This could help the company service its $35 billion in debt from Q2 2026 and expand capacity. However, analysts remain cautious about potential growth limitations due to rising capital costs. The stock closed at $61.12 after a trading volume surge of nearly 198% above average. The broader market saw gains with the S&P 500 up 0.42% and Nasdaq Composite gaining 1.11%. Rivals like Nebius Group also rose, reflecting positive sentiment in AI infrastructure.
Topics: AI cloud infrastructure CoreWeave stock movement Goldman Sachs upgrade
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