CoreWeave (CRWV) and OpenAI have signed a new cloud services agreement worth up to $6.5 billion, marking the third expansion of their partnership this year. The deal brings the total value of their collaboration to about $22.4 billion. Following the news, CRWV stock was up over 3% during Thursday’s trading session.
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CoreWeave, an AI cloud provider backed by Nvidia (NVDA), will provide cloud infrastructure to support OpenAI’s most advanced AI model training and inference workloads.
It must be noted that CRWV rents out data centers packed with high-performance Nvidia GPUs, which are key to powering large-scale AI systems such as OpenAI’s ChatGPT.
“This milestone affirms the trust that world-leading innovators have in CoreWeave’s ability to power the most demanding inference and training workloads at an unmatched pace,” said CoreWeave CEO Michael Intrator.
CoreWeave Grows Fast with Big AI Deals in 2025
The company has rapidly expanded its presence in the AI infrastructure space through several high-profile deals so far in 2025. Apart from today’s deal, CRWV signed two additional deals with OpenAI, one for $11.9 billion in March and another for $4 billion in May, reflecting its role as a key cloud provider for advanced AI workloads.
Also, CoreWeave secured a $6.3 billion hardware purchase agreement with Nvidia, which includes a financial backstop for unused cloud capacity. Beyond the U.S., the company committed £1.5 billion to support AI infrastructure in the UK and acquired companies like OpenPipe and Weights & Biases to strengthen its development and monitoring capabilities.
These moves place CoreWeave as a key player in the global race to build scalable, high-performance AI infrastructure.
Analysts Hike Price Target on CRWV stock
Wall Street analysts are showing renewed confidence in CoreWeave stock. Yesterday, analysts Michael Turrin of Wells Fargo and Ben Reitzes of Melius Research raised their price targets for the stock, citing CoreWeave’s growing role in powering high-performance AI workloads.
The bullish sentiment reflects optimism about CRWV’s ability to scale rapidly and secure major enterprise partnerships. The price target upgrades signal that investors may be underestimating the company’s potential to capture market share as demand for AI compute surges.
Is CRWV a Good Stock to Buy?
Turning to Wall Street, analysts have a Moderate Buy consensus rating on CRWV stock based on 15 Buys, 11 Holds, and two Sells assigned in the past three months. Further, the average CoreWeave stock price target of $145.31 per share implies 7.1% upside potential.
