Jefferies notes Nvidia (NVDA) and CoreWeave (CRWV) deepened their partnership as the former helps the latter push toward over 5GW of AI factories by 2030, well above today’s 2.9GW. Nvidia’s support on land and powered shells should ease execution risk and help scaling, Jefferies argues. Furthermore, Nvidia will also help take CoreWeave’s SUNK/Mission Control software to market, creating a high-margin, asset-light growth avenue. CoreWeave’s stake rises to about 9% from 7%, underscoring its conviction in CoreWeave as a strategic partner, not just a reseller, the firm adds. Jefferies has a Buy rating on CoreWeave with a price target of $120 on the shares.
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