CoreWeave (CRWV) shares ripped higher on April 10 after the company announced a major multi-year cloud infrastructure agreement with Anthropic to support its Claude AI models.\u00a0The news arrives only a day after META expanded its AI cloud deal with CRWV to a whopping $21 billion.<\/p>\n
As investors cheered these sizable transactions, CoreWeave stock broke above its 200-day moving average (MA), signaling a meaningful bullish reversal in long-term momentum.<\/p>\n
Following today\u2019s rally, the AI infrastructure firm is\u00a0trading just 4% below its year-to-date high.<\/p>\n The Anthropic announcement is super bullish for CRWV shares as it trims the company\u2019s outsized reliance on META for top-line growth and validates its specialized infrastructure.<\/p>\n On Friday, the primary OpenAI rival said it will leverage CoreWeave\u2019s high-performance compute to train and deploy future iterations of its Claude family of large language models (LLMs).<\/p>\n For investors, the Anthropic deal represents a clear signal that CRWV is winning the capacity war, proving it can secure both power and Nvidia silicon required by the world\u2019s most sophisticated AI labs.<\/p>\n In short, by onboarding Anthropic, CoreWeave has strengthened its reputation as the premier alternative to traditional hyperscalers for\u00a0artificial intelligence compute infrastructure.<\/p>\n The back-to-back multi-billion-dollar deals made Evercore ISI experts reiterate their \u201cOutperform\u201d rating and $120 price target on CoreWeave shares today.<\/p>\n According to them, the combined backlog from Anthropic and\u00a0META agreements \u2014 now estimated at nearly $88 billion \u2014 provides unprecedented visibility into future revenue.<\/p>\n Evercore recommends buying CRWV as it\u2019s managing to convert its \u201cpowered shell\u201d capacity into high-margin long-term contracts.<\/p>\n As long as demand for generative AI training remains insatiable, CoreWeave\u2019s unique position as a specialized GPU-cloud provider justifies a premium valuation compared to tech peers, its analyst told clients.<\/p>\n Other Wall Street firms seem to agree with Evercore ISI on CoreWeave, which is trading for about 7x sales at the time of writing.<\/p>\n<\/p><\/div>\n According to Barchart, the consensus rating on CRWV stock remains at \u201cModerate Buy,\u201d with price targets as high as $180 indicating potential upside of 70% from here.<\/p>\n On the date of publication, Wajeeh Khan did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally\u00a0published on Barchart.com<\/a> <\/i><\/p>\n<\/p><\/div>\n<\/div>\n<\/div>