CoreWeave (CRWV) Price Target Reaffirmed After $6.3 Billion NVIDIA Agreement

CoreWeave Inc. (NASDAQ:CRWV) ranks among the best hot AI stocks to buy right now. On September 16, Cantor Fitzgerald restated its Overweight rating and $116 price target for CoreWeave Inc. (NASDAQ:CRWV). The firm cited CoreWeave’s latest 8-K filing, which announced a fresh agreement under its current Master Services Agreement (MSA) with NVIDIA.

The agreement, which has an initial deal value of $6.3 billion, gives NVIDIA access to any remaining unsold cloud computing capacity from CoreWeave Inc. (NASDAQ:CRWV). As long as the MSA is in effect, NVIDIA must buy the remaining capacity by April 13, 2032.

Cantor Fitzgerald pointed out that, excluding any additional increases signed in the third quarter, the $6.3 billion order would raise CoreWeave’s backlog by 21% from $30.1 billion at the end of the second quarter of 2025.

CoreWeave Inc. (NASDAQ:CRWV) operates a cloud platform that scales, supports, and accelerates GenAI. It creates the infrastructure that supports computational workloads in companies.

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Disclosure: None. This article is originally published at Insider Monkey.