s/garrytanAI INFRASTRUCTURE•5d
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Goldman sees 73% upside in CoreWeave despite cutting target
Debt vs. demand
CoreWeave shares fell even as the Nasdaq-100 ETF gained more than 1.2%, undercutting the initial 6% premarket jump. Goldman still sees enough upside in AI infrastructure to raise the stock to Buy, arguing that investors are pricing in too much future borrowing cost and too little return per megawatt.
The call comes after a 43% decline since August 11 and a 24% drop over the prior five trading sessions, driven by credit-market volatility, financing concerns, and questions about AI demand. CoreWeave raised prices 25% in July while AI capacity remained tight. Goldman's $106 target implies 73% upside, even after being cut from $139.
CoreWeave shares fell even as the Nasdaq-100 ETF gained more than 1.2%, undercutting the initial 6% premarket jump. Goldman still sees enough upside in AI infrastructure to raise the stock to Buy, arguing that investors are pricing in too much future borrowing cost and too little return per megawatt.
The call comes after a 43% decline since August 11 and a 24% drop over the prior five trading sessions, driven by credit-market volatility, financing concerns, and questions about AI demand. CoreWeave raised prices 25% in July while AI capacity remained tight. Goldman's $106 target implies 73% upside, even after being cut from $139.
Timeline3
5d
Goldman Sachs upgraded CoreWeave from Neutral to Buy and set a $106 price target.
5d
CoreWeave shares were reported up 6% in premarket trading.
5d
CoreWeave traded lower while the Nasdaq-100 ETF was up more than 1.2%.
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5d