JPMorgan Turns Bullish on CoreWeave

JPMorgan has upgraded its rating on CoreWeave (CRWV) to Overweight from Neutral, citing the cloud computing provider's growing willingness to sell AI capacity through shorter-duration contracts at premium rates.

The investment bank raised its price target to $125 from $120, implying a 44% upside based on the stock's recent trading level around $86.90.

JPMorgan analyst Samik Chatterjee framed the upgrade as a response to improving fundamentals that the market has largely ignored.

CoreWeave implemented price increases of approximately 25% across all product lines in July, and rival Nebius Group (NBIS) has pursued similarly aggressive adjustments.

The financial impact is already becoming visible, with contracts signed during CoreWeave's fiscal third quarter averaging about $40 million per megawatt.