On August 12, CoreWeave, Inc. rose 5.57% in after-hours trading, trading at $97.55/share, with turnover of $253 million. The stock had already gained approximately 4.9% during the regular session ahead of results.

The move was driven by the company's better-than-expected Q2 earnings report. CoreWeave posted an adjusted loss per share of $1.03, beating the consensus estimate of $1.22 by 15.57%. Revenue came in at $2.575 billion, slightly above the $2.56 billion expectation, representing approximately 113% year-over-year growth. The company's remaining performance obligations rose to approximately $104 billion as of June 30, up from $99.4 billion at the end of Q1, providing high revenue visibility going forward.

Additionally, CoreWeave announced the completion of a $2.6 billion AI infrastructure loan facility to fund ongoing data center expansion. JPMorgan recently raised its price target on the stock to $110, citing strong AI compute demand, while Deutsche Bank maintains a Buy rating with a $150 target.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)