CoreWeave Inc. (NASDAQ:CRWV) is one of the 10 Best Data Center Stocks to Buy for the Long Term. The stock’s price more than doubled from a year ago, up 205.86%, while it registered a 50.73% increase year-to-date. On April 16, Cantor Fitzgerald analyst Brett Knoblauch raised his price target for the CoreWeave stock to $156 from $149 and reiterated a Buy rating, highlighting the company’s recent large-scale deals such as its $6 billion AI cloud agreement with Jane Street, its $21 billion deal with Meta Platforms, and a multi-billion-dollar deal with Anthropic.
Under the expanded partnership with Jane Street, CoreWeave will provide the former with access to next-generation compute across multiple facilities, including NVIDIA’s Vera Rubin technology and the software and services required to deploy and scale its AI solutions.
Last week, CoreWeave also announced a multi-year agreement with Anthropic to support the development and deployment of Anthropic’s Claude family of AI models. Under the agreement, Anthropic will use CoreWeave’s cloud platform to run workloads at production scale, while benefiting from its industry-leading performance and reliability.
“We’re excited to work with Anthropic at the center of where models are put to work and performance in production shows up. It’s exactly the kind of real-world deployment of AI that CoreWeave was built for,” said Michael Intrator, Co-founder, CEO, Chairman of CoreWeave.
The company said the collaboration will initially focus on a phased infrastructure roll-out with the potential to expand over time.
A new data center facility in Plano, Texas. Photo from CoreWeave
Aside from the partnership with Anthropic, CoreWeave also announced earlier this week an expanded, long-term agreement with Meta Platforms, Inc. to provide AI cloud capacity through December 2032 for approximately $21 billion.
According to CoreWeave, the dedicated capacity will be deployed across multiple locations and will include some of the initial deployments of the NVIDIA Vera Rubin platform. This distributed approach is designed to optimize performance, resilience, and scalability for Meta’s AI operations.
It added that the new agreement is a clear signal of the industry’s accelerating demand for high-performance infrastructure capable of supporting increasingly complex, large-scale AI workloads.
CoreWeave Inc. (NASDAQ:CRWV) is an AI cloud computing company that specializes in providing cloud-based graphics processing unit (GPU) infrastructure to AI developers and enterprises.
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