TLDR
- CoreWeave rose 3% to $83.35 after becoming the first AI cloud provider to deploy Nvidia’s Vera Rubin NVL72 cluster
- Q2 2026 revenue jumped 112% year-over-year to $2.58 billion, beating analyst EPS estimates by $0.38
- Blockfusion signed a 15-year anchor lease with CoreWeave at its Niagara Falls AI campus
- Wall Street holds a “Moderate Buy” consensus with an average price target of $142.31, implying roughly 70% upside
- Bernstein maintains a Sell rating, citing concerns that slowing AI development could hurt infrastructure demand
CoreWeave (CRWV) climbed over 3% on Wednesday to around $83.35, hitting an intraday high of $85.26. The move came after the company announced it is the first neocloud to deploy Nvidia’s Vera Rubin NVL72 system within a live AI cloud platform.
CoreWeave, Inc. Class A Common Stock, CRWV
The Vera Rubin NVL72 is Nvidia’s latest rack-scale architecture, combining 72 Rubin GPUs and 36 Vera CPUs into a single cluster. The system is built for large-scale AI training and inference workloads.
“CoreWeave was the first AI cloud provider to validate and bring up a Vera Rubin NVL72, demonstrating that this advanced rack-scale architecture could operate as a reliable, high-performance cloud service,” said Chen Goldberg, Executive Vice President at CoreWeave.
CoreWeave’s closest neocloud rivals, Nebius and IREN Limited, have not yet deployed the technology. Nebius stock is up roughly 155% year-to-date, compared to CoreWeave’s 15% gain since January.
Strong Revenue Growth, But Losses Widen
In Q2 2026, CoreWeave reported revenue of $2.58 billion, a 112% increase year-over-year. The company beat analyst EPS estimates, reporting a loss of $1.14 per share against a consensus of $1.52.
However, the adjusted net loss per share of $1.03 was 282% wider than the $0.27 loss reported in the same period a year ago. The company carries a debt-to-equity ratio of 5.53 and a negative net margin of 25.41%, and remains unprofitable.
Analysts forecast a full-year EPS of -$5.19 for CoreWeave.
The company also introduced new storage features, including cross-region write acceleration and an Archive tier for CoreWeave AI Object Storage. These are designed to keep data closer to GPUs and improve workload performance.
Blockfusion Lease Adds Long-Term Capacity
Blockfusion signed a 15-year anchor lease with CoreWeave for space at its Niagara Falls, New York AI campus. The deal also includes an expansion agreement, giving CoreWeave visibility into future infrastructure capacity.
Earlier this month, CoreWeave also launched Physical AI Field Engineering, placing its specialists directly with customer teams to help design, train, and deploy AI models across sectors like autonomous vehicles, robotics, and aerospace.
On the institutional side, Alyeska Investment Group boosted its stake in CoreWeave by 55.7% in Q2, while Deutsche Bank increased its position by over 22,000%.
Wells Fargo raised its price target on CRWV from $155 to $160 with an Overweight rating. Cantor Fitzgerald holds a $176 target. Bernstein, however, reiterated its Sell rating after Anthropic and OpenAI executives flagged that AI capability development may slow.
The consensus across 34 analysts sits at “Moderate Buy” with an average price target of $142.31. Insiders sold over 6.7 million shares worth $604 million in the past 90 days, executed under pre-arranged 10b5-1 plans.
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