CoreWeave gets the classic Wall Street split screen

Wall Street: same stock, three different moods

CoreWeave just got the kind of analyst coverage that makes your head tilt: one shop says buy the dip, another says hold on tight, and a third says the train is moving but don’t expect the tracks to get smoother anytime soon.

Bank of America’s Tal Liani kept a Buy rating and a $140 target, pointing to first-quarter revenue growth of 112% and a backlog that jumped 49% to $99.4 billion. That pile of future business includes the previously announced $21 billion Meta deal, which is doing a lot of heavy lifting in the “why this story matters” department.

The good news: demand is doing cartwheels

The bullish case is pretty straightforward:

• CoreWeave added about 150 megawatts of active power in the quarter
• active power is now above 1GW
• contracted power sits at 3.5GW
• inference workloads now make up more than half of compute usage

Translation: CoreWeave is still selling the AI shovels while everyone else is racing to dig faster. Demand looks strong, the backlog looks enormous, and the company says it remains largely sold out of 2026 capacity.

The not-so-fun part: the bill keeps getting bigger

Here’s where the stock gets the espresso shot jitters. Goldman Sachs kept a Neutral rating and an $85 target, noting investors didn’t love higher capex guidance after costs rose with component prices. JPMorgan was also Neutral, though it nudged its target to $105 from $90 after CoreWeave’s revenue beat and record bookings.

The caution flags are basically the same across the board:

• capex is still ramping hard
• execution risk is real
• the macro backdrop is not exactly whispering sweet nothings

Big picture

This is still a rocket-ship AI infrastructure story, just one with a very loud engine. If CoreWeave keeps converting demand into revenue without tripping over its own spending spigot, the bulls win. If not, Wall Street’s “lumpy, volatile ride” warning starts sounding less like a quote and more like a trailer.