News
Goldman upgrades CoreWeave to buy despite 63% bond default risk
Goldman Sachs raised CoreWeave (CRWV) to a buy with a $106 price target, countering a bond market-implied 63% default probability over five years. CoreWeave, a neocloud AI data‑center provider, carries about $35 billion in debt, $2.6 billion revenue and $626 million loss last quarter, with a $104 billion contract backlog. The stock fell 24% over five sessions, then rebounded 6% after the upgrade, trading around $65.88. Analysts debate the financing risk versus strong contract pipeline and Nvidia’s capacity purchase agreement through 2032.