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Investors should buy the recent dip in CoreWeave as strong AI demand will power shares higher, according to Citi. Analyst Tyler Radke upgraded the artificial intelligence cloud computing stock to buy from neutral. His price target of $160 implies upside of 55% from Wednesday’s close. Despite more than doubling since its IPO in late March, CoreWeave has tumbled nearly 37% over the past month, with investors skeptical about the company’s $9 billion acquisition of Core Scientific. That said, Radke noted that Microsoft’s strong quarterly figures signal AI demand remains strong — which will boost CoreWeave long term. CRWV 1M mountain CRWV in past month “We come away with a much stronger fundamental view on the demand picture highlighted by MSFT (72% of 1Q25 revenue) beating/raising on Azure and raising capex with upside to finance leases,” Radke wrote. “We feel incrementally more confident about the durability of AI demand and CRWV’s position in the market, though still hold some concerns around customer concentration and Coreweave’s ability to move up the stack,” he added. CoreWeave shares popped more than 13% in the premarket, while Microsoft traded 8% higher. Radke’s upgrade puts him in the minority on Wall Street. LSEG data shows that 17 of 24 analysts covering the stock rate it a hold, while three others have an underperform rating on it. Just four analysts rate CoreWeave as a buy or strong buy.
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