CoreWeave (CRWV) Expands $22.5B OpenAI Deal as GPUaaS Market Surges

CoreWeave, Inc. (NASDAQ:CRWV) is one of the Top AI Stocks in the Spotlight on Wall Street. On September 25, Citizens JMP analyst Greg Miller reiterated a Market Outperform rating on the stock with a $180.00 price target. The rating affirmation followed the company’s announcement of an expanded agreement with OpenAI.

CoreWeave expanded its agreement with OpenAI, bringing the total contract value at an estimated $22.5 billion. Analysts believe that there may be new contracts ahead as hyperscalers are increasingly outsourcing GPU cluster build outs to GPUaaS providers. These firms take on the financial and technical risks while helping hyperscalers get to market faster.

With the GPUaaS market anticipated to surge to an estimated $300 billion, the rapid growth outlook has led analysts to reiterate their Market Outperform rating.

“This morning, CoreWeave announced an expansion of its agreement with OpenAI, adding up to $6.5 billion in value. This follows the initial contract of up to $11.9 billion signed in March, and a subsequent expansion of up to $4 billion in May 2025. With today’s announcement, the total contract value between CoreWeave and OpenAI now stands at approximately $22.5 billion. We believe we will continue to see new contracts being signed as we believe hyperscalers are increasingly outsourcing GPU cluster buildouts to GPUaaS providers which are willing to accept balance sheet and technology risk while improving hyperscalers’ time to market. As highlighted in our recent upgrade note, we project the GPUaaS market to scale from ~$3-4 billion currently to approximately $300 billion, reflecting the rapid acceleration in demand and infrastructure outsourcing by hyperscalers. We reiterate our Market Outperform rating and $180 price target, which represents ~6.0x estimated 2027 revenue.”

CoreWeave, Inc. (NASDAQ:CRWV) is a cloud platform provider that provides equipment for AI and other computing purposes.

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