Stock Track | CoreWeave Soars 5% Intraday on Indonesia Expansion and Bullish Analyst Coverage

Stock Track

Aug 04

CoreWeave, Inc. (CRWV) shares surged 5.00% during intraday trading, building on strong momentum from the prior session as investors cheered the company's announcement of its first-ever Asia-Pacific data center expansion alongside a fresh wave of bullish analyst coverage.

The AI cloud computing company unveiled plans to build three new data centers in Indonesia with a combined capacity of 360 megawatts, marking its inaugural move into the Asia-Pacific region. The facilities, expected to come online by 2028, will be owned and operated by CoreWeave and extend its AI cloud platform into Southeast Asia to serve enterprises, AI-native companies, and governments. The company currently operates 49 data centers globally with more than 1 gigawatt of active power and over 3.5 gigawatts of contracted power, serving clients including OpenAI, Meta Platforms, and Microsoft.

Adding to the positive sentiment, Piper Sandler initiated coverage on CoreWeave with an Overweight rating and a $151 price target, while Wells Fargo reaffirmed its Buy rating with a $155 price target. The bullish analyst calls come ahead of the company's highly anticipated second-quarter earnings report, with consensus estimates pointing to revenue of approximately $2.56 billion, representing a 136.90% year-over-year increase, as new AI compute capacity comes online and multi-year backlog converts into deployed usage.

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(CRWV) shares surged 5.00% during intraday trading, building on strong momentum from the prior session as investors cheered the company's announcement of its first-ever Asia-Pacific data center expansion alongside a fresh wave of bullish analyst coverage.</p><p>The AI cloud computing company unveiled plans to build three new data centers in Indonesia with a combined capacity of 360 megawatts, marking its inaugural move into the Asia-Pacific region. The facilities, expected to come online by 2028, will be owned and operated by CoreWeave and extend its AI cloud platform into Southeast Asia to serve enterprises, AI-native companies, and governments. 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