CoreWeave stock receives Buy rating from Stifel on $14.2bn Meta deal

Investing.com - CoreWeave (NASDAQ:CRWV) has secured a $14.2 billion contract amendment with Meta, expanding their 2023 Master Service Agreement and confirming Meta as the company’s second hyperscaler customer alongside OpenAI. The company, currently valued at $71 billion, has seen its stock surge 242% year-to-date, according to InvestingPro data.

The expanded deal significantly increases CoreWeave’s backlog, which now totals $44.3 billion, excluding Nvidia’s $6.3 billion unused capacity agreement. These commitments extend into the early 2030s with options beyond that timeframe.

Stifel analyst Ruben Roy reiterated a Buy rating and $120.00 price target on CoreWeave , viewing the Meta contract as a strategic win that diversifies the company’s customer base beyond Microsoft and OpenAI.

The agreement also enhances CoreWeave’s debt collateralization potential, according to Stifel’s analysis, which reinforces their long-term thesis around robust high-performance computing infrastructure demand.

Recent industry developments supporting this outlook include Oracle/OpenAI and Northern Data/Microsoft announcements, though Stifel notes they’re maintaining a Hold rating due to near-term volatility tied to the pending Core Scientific acquisition vote scheduled for October 30.

In other recent news, CoreWeave has made significant strides with its recent financial agreements and analyst ratings. The company announced an expanded agreement with OpenAI, adding up to $6.5 billion to their existing partnership, which now totals approximately $22.4 billion. This deal is part of a series of agreements following initial contracts signed in March 2025 and May 2025. Additionally, CoreWeave received a substantial purchase order from Meta, valued at up to $14.2 billion under a 2023 master service agreement.

Analyst ratings have also been a focal point for CoreWeave. DA Davidson reiterated its Underperform rating with a price target of $36.00, while Barclays maintained its Equalweight rating with a $140.00 price target. On the other hand, Citizens JMP upheld its Market Outperform rating with a $180.00 price target following the OpenAI deal expansion. Furthermore, Melius upgraded CoreWeave from Hold to Buy, setting a price target of $165.00, and Wells Fargo raised its rating from Equal Weight to Overweight, increasing the price target to $170.00. These developments highlight the company’s growing influence in the AI and cloud-computing sectors.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.