MoffettNathanson initiated coverage of CoreWeave (CRWV) with a Neutral rating and $43 price target. The bull case for CoreWeave “isn’t complicated,” as the company is a pure-play provider of AI infrastructure during a time of exploding demand and pinched supply, the analyst tells investors. However, there are “substantial risks to consider” given that as GPU supply and demand eventually move into balance, large customers, most notably Microsoft (MSFT), may no longer need to lean as heavily on outsourced compute, the analyst added.
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