CryptoCurrency
CoreWeave Stock Soars, Thanks to Energy Department Win and Bullish Citi Note
Shares in CoreWeave, the AI data center middleman, rose 23% Friday, a strong bounce-back after a six-week span in which its price fell by more than half. The company, which uses high-interest debt to buy Nvidia chips and rent computing power to artificial-intelligence companies, was named Thursday as one of 24 partners of the Department of Energy’s new Genesis Mission, an initiative aimed at using AI to accelerate scientific discovery in the U.S.
CoreWeave went public in March in one of the most anticipated tech offerings of the year, but investors have grown increasingly anxious about the prospect of an AI bubble.
Also buoying the stock Friday was a bullish report by Tyler Radke of Citi Research, who resumed coverage after a restricted period. “Our recent management check-in suggests capacity ramps + bookings strength are continuing into Q4, which we think drives accelerating growth in 2026,” Radke wrote—while also noting that CoreWeave has struggled with “supply constraints and powershell capacity delays.” The Journal reported Monday that heavy rains in Texas caused a 60-day delay at a construction site in Denton, Texas. Citi gave the stock a $135 price target.
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