CoreWeave Stock Soars on $14 Billion Meta Deal -- Wall Street Says the Nvidia-Backed AI Stock Is Still a Buy

A regulatory filing made September 30 shows neocloud CoreWeave (NASDAQ: CRWV) signed a deal to provide Meta Platforms with $14.2 billion in computing power through 2031, with an option to extend through 2032. The deal will furnish Meta with access to Nvidia GB300 NVL72 systems, the very bleeding edge of artificial intelligence (AI) infrastructure.Meta has been a CoreWeave customer since December 2023, so the new agreement is a clear sign the social media giant is more than satisfied with services rendered in the past. "They loved our infrastructure in earlier contracts and came back for more," CoreWeave CEO Michael Intrator told Bloomberg.CoreWeave shares advanced nearly 12% on the news, but most Wall Street analysts still believe the stock is undervalued. Among 29 forecasts, the median target price is $157 per share. That implies 16% upside from the current share price of $136. Read on to learn more about this Nvidia-backed AI stock.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool