Wells Fargo has begun coverage of CoreWeave (CRWV, Financial), assigning it an Equal Weight rating and setting a price target of $41. The investment firm recognizes CoreWeave's strategic positioning to benefit from the ongoing shift towards artificial intelligence infrastructure.
However, Wells Fargo remains cautious about several risks associated with the company. Among these are a high concentration of customers, substantial capital demands, and the ongoing imbalance in supply and demand for GPUs. These factors have led the firm to adopt a more balanced outlook on the stock.
