CoreWeave’s Q2 Results Surpass Expectations, Analysts Upgrade Ratings
On August 12, 2026, AI cloud computing provider CoreWeave (NASDAQ: CRWV) released second-quarter financial results that exceeded market forecasts. Following the report, 12 major Wall Street firms updated their ratings and price targets for CoreWeave stock. Of these, eight analysts issued Buy or more positive recommendations, while four maintained Hold ratings. No sell ratings were reported.
Wells Fargo analyst Michael Turrin led the upgrades by raising his 12-month price target from $155 to $160, reaffirming his Buy rating. Meanwhile, Morgan Stanley’s Ryan Lountzis remained cautious with a Hold rating and a $99 price target.
Revenue and Earnings Highlights
CoreWeave posted Q2 revenue of $2.58 billion, narrowly surpassing the consensus estimate of $2.56 billion. Adjusted loss per share came in at $1.03, better than the anticipated $1.20 loss per share. Looking ahead, the company guided Q3 revenue to range between $3.45 billion and $3.6 billion, slightly above previous forecasts of $3.43 billion.
The firm also disclosed plans for a significant increase in capital expenditures, projecting spending between $11.5 billion and $13.5 billion. This reflects CoreWeave's ongoing investments to expand its AI infrastructure capabilities.
CoreWeave highlighted the rapidly growing demand for AI infrastructure services, noting that about 70% of the sector’s demand is concentrated with two key players, Anthropic and OpenAI. The company confirmed its active involvement with Meta Platforms (NASDAQ: META) and Anthropic, which is a meaningful driver for its business expansion.
Stock Price Surges Over 24% This Week
Following the earnings announcement, CoreWeave's shares surged 24.43% during the week, closing at $107.02, with a notable 17% rise in one trading session. Year-to-date, the stock has gained nearly 35%, indicating investor optimism about the company’s growth prospects.
In an industry characterized by capital-intensive investments and rapid innovation, CoreWeave's results and aggressive spending plans have captured market attention. While some analysts remain measured on future growth, the overall market response reflects confidence in CoreWeave’s position within the expanding AI infrastructure landscape. Continued focus will be on how effectively the company balances its capital expenditures against revenue growth and adapts to evolving global AI infrastructure demand.