CoreWeave Q2 Revenue Surges 112% to $2.575B, Five Analysts Raise Targets

CoreWeave reports Q2 revenue of $2.575B, up 112% YoY. Five firms adjust price targets, citing strong AI infrastructure demand and margin expansion, while maintaining mixed ratings.

Woofun AI reports that CoreWeave, an AI-focused cloud service provider, delivered second-quarter revenue of $2.575 billion, marking a 112% year-on-year increase. Wall Street analysts generally maintained a positive outlook, attributing the results exceeding expectations to robust demand for AI infrastructure and improved profit margins.

Five firms adjusted their price targets. Wells Fargo set an overweight rating with a $160 target, Piper Sandler assigned an overweight rating at $153, and Baird gave an outperform rating with a $130 target, highlighting growth in net new active megawatts, strong Q3 bookings, and diversified enterprise AI applications. JPMorgan and Mizuho kept neutral ratings but raised targets to $120 and $115 respectively, noting Q2 margin improvements while expressing uncertainty about short-term revenue growth.