Abhishek Shukla of HSBC initiated coverage of CoreWeave in a research note Thursday, issuing a $32 price target and a Reduce rating—HSBC’s equivalent of Sell—citing elevated cost forecasts and few options for diversification. That $32 figure implies a 77% drop from Wednesday’s closing price and the lowest target among analysts polled by FactSet.

CoreWeave had an exciting H1'25 performance, thanks to the IPO, the demand for its neocloud, and the consequently rich multi-year backlog. Read why CRWV is a compelling buy.

The stock closed up 6.2% on the news. CoreWeave has been seeing scorching-hot growth since it pivoted its business model to AI infrastructure, providing computing capacity to companies like Microsoft, Nvidia, and OpenAI, and it needs new data centers to fuel that growth.

CoreWeave and Core Scientific are both down sharply since agreeing to merge.

CoreWeave Inc.’s $9 billion acquisition of Core Scientific Inc. has thrown investors holding the smaller company’s convertible bonds for a loop.

CoreWeave’s CEO said the acquisition will enhance the company’s performance and expertise as they "continue helping customers unleash AI’s full potential."

CoreWeave acquires Core Scientific for strategic AI alignment, $10bn lease savings, but high leverage risks remain. See why I rate CRWV stock a Buy now.

CoreWeave CEO Mike Intrator discusses their acquisition of Core Scientific, their $6 billion investment in a data center in Lancaster, Pennsylvania, the demand for artificial intelligence and more on 'Mornings with Maria.