Why Shares of Nvidia-Backed CoreWeave Have Blasted 39% Higher This Week
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Shares of CoreWeave, an AI data center company backed by Nvidia, surged 39% this week, driven by a $2 billion debt offering and strong demand for AI services. Citigroup analyst Tyler Radke raised the price target from $43 to $94, citing robust earnings and a $4 billion OpenAI expansion deal. Despite the stock's impressive rise, concerns about profitability and customer diversification remain. Investors are advised to approach cautiously, considering the stock's volatility and the company's current lack of profitability.
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