Deutsche Bank has upgraded CoreWeave (NASDAQ:CRWV) from Hold to Buy and increased its price target to $140 from $100 as the company approaches the release of fourth-quarter 2025 results. The revised target implies roughly a 42% upside versus CoreWeave’s then-current share price of $98.31, with the stock having recovered about 3.25% over the prior week, according to InvestingPro data.
The bank framed the upgrade around a positive medium-term outlook for the cloud-gaming and AI-focused data center operator. Deutsche Bank expects CoreWeave’s management to issue initial guidance for calendar-year 2026 soon - the company’s first full-year guidance period since listing publicly. That development, the bank said, supports a more favorable stance even though CoreWeave is not projected to reach profitability this year.
Analysts tracked by InvestingPro forecast a substantial revenue acceleration for the company, with consensus estimates pointing to about 166% revenue growth in fiscal 2025. Deutsche Bank told investors it views CoreWeave as well placed to capitalize on demand because it still has more than 1 gigawatt of secured power capacity available to allocate to customers in what the bank describes as a supply-constrained market. If CoreWeave executes on planned capacity additions, the bank said consensus revenue expectations could be revised upward.
Deutsche Bank characterized the company’s recent announcement with Nvidia as strategic rather than primarily a capital transaction. The bank said the arrangement should help CoreWeave move more quickly toward its target of building in excess of 5 gigawatts of AI infrastructure by 2030, beyond the current 2.9 gigawatts backlog the company has reported. That strategic framing informed the bank’s view on the stock.
The bank also noted a shift in CoreWeave’s customer base toward more investment-grade accounts, which it expects will help lower the cost of incremental capital for the company. This observation comes even as Deutsche Bank acknowledged what it described as weakening sentiment in AI-related credit markets.
Separately, CoreWeave recently received a substantial equity investment from Nvidia totaling $2 billion, which increased Nvidia’s stake in the company to roughly 9% of outstanding shares. That infusion is part of an expanded partnership intended to accelerate CoreWeave’s buildout to exceed 5 gigawatts of AI facilities by 2030.
Market watchers and sell-side firms have responded positively to the Nvidia transaction and CoreWeave’s expansion plans. Jefferies has reiterated a Buy rating with a $120 price target, highlighting the Nvidia partnership as a factor that reduces execution risk and helps scale operations. Freedom Capital Markets maintained a Buy rating with a $100 target after Nvidia purchased 22.9 million Class A shares at $87.20 each. Needham’s analysts have signaled optimism about the long-term potential to develop more than 5 gigawatts of capacity. DA Davidson upgraded CoreWeave from Neutral to Buy and raised its price target to $110, citing strengthening compute demand and multiple de-risking pathways.
Together, these analyst moves and the Nvidia investment have attracted increased attention from the broker community and underline the industry interest in CoreWeave’s strategy to expand AI-focused capacity. While the company is not forecast to be profitable in the near term, the mix of secured power, strategic partnerships and an improving customer quality profile are central to the bullish case presented by Deutsche Bank and other firms.
Note on data cited: Price and growth figures referenced above reflect InvestingPro data and analyst estimates cited in materials accompanying recent research notes and company disclosures.