$Coreweave(CRWV.US)

CoreWeave (CRWV): AI Demand Is Real—But Valuation Still Demands Discipline

CoreWeave’s after-hours surge reflects more than revenue growth: Q2 revenue reached $2.58B, +112% YoY, while backlog climbed above $104B. FY2026 guidance was raised to $12.4–13.2B revenue and $960M–1.15B adjusted operating income, reinforcing accelerating AI-infrastructure demand. (Reddit⁠)

The bull case is supported by Oppenheimer, which sees industry demand at roughly 4× available supply and maintains a $150 target. (Yahoo Finance⁠) Morningstar is more conservative at $106, highlighting CoreWeave’s extreme capex intensity and very-high valuation uncertainty. (Morningstar⁠)

Technically, the rebound toward $90–105 has restored momentum, but the wide trading range signals elevated volatility. Fundamentally, negative EPS and massive 2026 capex of $35–39B remain key risks.

Options strategy: Prefer cash-secured puts around $75–80, targeting 20–30 delta and entering only after volatility cools. For existing holders, sell covered calls around $105–115, preferably 20–30 delta, converting the earnings spike into premium while retaining upside.

Verdict: Bullish business momentum, but options writers should demand a substantial margin of safety rather than chase the post-earnings spike.

Not financial advice.