Stock Market Today, April 13: CoreWeave Surges on Analyst Upgrade and AI Contract Momentum
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CoreWeave's stock surged 8.13% to $110.29 after a Macquarie upgrade and higher price target, driven by momentum in AI contract execution and recent financings. The company's stock has grown 176% since its IPO in 2025, with trading volume reaching 92% above its three-month average.
CoreWeave, a cloud-based GPU infrastructure provider, saw its stock climb 8.13% to $110.29. This followed a Macquarie upgrade and higher price target. The company announced large AI cloud infrastructure deals last week, including with Meta Platforms. CoreWeave also announced an upsized offering of $3.5 billion in convertible notes to fund AI infrastructure buildout. Other analysts, such as D.A. Davidson and Cantor Fitzgerald, raised their price targets or maintained overweight ratings, citing major AI contracts as growth factors.
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