Shares of CoreWeave (CRWV) are up at the time of writing after the AI infrastructure company, working with Nvidia (NVDA) and IBM (IBM), achieved a major milestone. Indeed, it submitted the largest-ever test results for Nvidia’s new GB200 Grace Blackwell chips using the MLPerf Training v5.0 benchmark. The test involved 2,496 GPUs running on CoreWeave’s AI-focused cloud system. This setup was 34 times bigger than any other cloud provider’s entry and showed just how powerful and large CoreWeave’s cloud platform really is.
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In the test, CoreWeave trained the Llama 3.1 405B model—one of the most complex AI models in the test suite—in just 27.3 minutes. It also said that its cluster was more than twice as fast as similar-sized systems submitted by others. This proves how strong and efficient CoreWeave’s setup is when it comes to training demanding AI models.
CoreWeave said that these results are important because they can help customers develop AI models faster and at a lower cost. With this kind of performance, clients can train and deploy their models more efficiently and sometimes months ahead of their competitors. In fact, in April, CoreWeave became the first cloud provider to make Nvidia’s GB200 chips widely available by adding thousands of them to their platform just weeks after the company went public.
Is CRWV a Good Stock to Buy?
Turning to Wall Street, analysts have a Moderate Buy consensus rating on CRWV stock based on seven Buys, five Holds, and zero Sells assigned in the past three months, as indicated by the graphic below. Furthermore, the average CRWV price target of $47.42 per share implies 69.2% downside risk.
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