BofA starts ‘AI datacenter leader’ CoreWeave with a Buy

As previously reported, BofA initiated coverage of CoreWeave (CRWV) with a Buy rating and $42 price target, calling it the “AI datacenter leader.” CoreWeave’s Cloud Platform has been purpose built for GPU compute to support AI service providers such as Microsoft (MSFT), OpenAI and Nvidia (NVDA), says the analyst, who sees room for sustained share gains in the large AI Infrastructure-as-a-Service industry. The firm forecasts a 62% three-year compound annual growth rate, which it sees “significantly outpacing” the general purpose cloud IaaS at a 21% growth rate.