CoreWeave Surges 15% as Meta’s Cloud Push and a Fresh $106 Target Reignite the AI Compute Trade

CoreWeave (CRWV) jumped more than 15% on Monday, climbing to roughly $82.87 by midday as investors piled back into AI infrastructure names. Specifically, a new Morningstar valuation pegging the stock at $106 per share, a fresh partnership with Leidos, and reports that Meta plans to enter the cloud-compute market all combined to lift sentiment. As a result, CoreWeave led the AI cloud cohort higher, pulling peers like Snowflake and Oracle up alongside it.

Key Points

• CoreWeave shares climbed about 15.5% intraday to roughly $82.87, rebounding sharply within a 52-week range of $60.55 to $153.20.
• Morningstar values the stock at $106 per share, well above where it currently trades.
• A new Leidos partnership and reports of Meta entering cloud compute reinforced the AI-demand narrative.
• The company carries a market cap near $45 billion, with trailing-twelve-month revenue of about $6.23 billion and a diluted EPS of -$2.72.
• CoreWeave reports its next quarterly results on August 11, 2026.

A Sharp Rebound in a Volatile Name

To begin with, Monday’s move marked a decisive bounce for a stock that has whipsawed all year. CoreWeave opened at $70.74, then rallied through a daily range of $69.89 to $84.39 as volume swelled past 24 million shares. Furthermore, the stock had recently slumped alongside fellow neocloud Nebius, so buyers clearly seized on the pullback. Even after the surge, however, shares still sit far below their 52-week high of $153.20, which leaves considerable ground to recover.

Meta’s Entry Validates the Demand Story

More importantly, the market cheered reports that Meta intends to move into cloud compute. Rather than reading the news as new competition, investors interpreted it as fresh validation that demand for AI infrastructure keeps expanding. Consequently, analysts framed Meta’s planned entry as a signal that the AI compute boom still has room to run. In addition, Morningstar highlighted CoreWeave’s deep integration with Nvidia as a durable competitive edge, arguing that the tight hardware relationship makes CoreWeave a go-to provider for demanding AI workloads.

The Leidos Deal Adds Momentum

Beyond the macro tailwinds, CoreWeave also scored a concrete win. The company recently landed a partnership with Leidos, and that agreement gave investors another reason to buy. Because government and enterprise contracts tend to bring steady, large-scale workloads, the market treated the Leidos tie-up as evidence that CoreWeave can broaden its customer base beyond the biggest hyperscalers.

The Numbers Behind the Hype

Still, the fundamentals demand a clear-eyed look. CoreWeave generated about $6.23 billion in trailing-twelve-month revenue, yet it posted a net loss near $1.59 billion and a diluted EPS of -$2.72. Moreover, the company’s balance sheet carries heavy leverage, with a debt-to-equity ratio above 700% and levered free cash flow of roughly -$8.56 billion. On top of that, CoreWeave recently completed a $2.6 billion term loan after raising the spread and yield, which underscores just how capital-intensive its growth remains. Therefore, the central question persists: can CoreWeave fund $31 billion to $35 billion in planned capital expenditures without straining its finances?

Where Wall Street Stands

Despite those concerns, analysts remain broadly constructive. The average price target sits near $138, and targets stretch from a low of $36 all the way to a high of $303. Notably, Truist Securities recently upgraded the stock to Buy, even as it trimmed its target from $131 to $126. Meanwhile, Morningstar’s $106 fair-value estimate implies meaningful upside from current levels, which helps explain Monday’s enthusiasm.

What to Watch Next

Looking ahead, investors will turn their attention to CoreWeave’s next earnings report on August 11, 2026. At that point, management will need to show progress on margins, capital discipline, and customer growth to justify the renewed optimism. Until then, CoreWeave remains a high-conviction, high-volatility bet on the AI infrastructure buildout — a stock that rewards conviction but demands a strong stomach.

For more on the company, visit CoreWeave’s website, and to track shares in real time, follow the CRWV ticker.