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CoreWeave (CRWV) just announced a $21 billion long-term agreement with Meta Platforms.
CoreWeave signed a new $21 billion AI cloud agreement with Meta Platforms through December 2032.
KEY POINTS
- The new Meta agreement will utilize Nvidia’s Vera Rubin platform, marking a technology update.
- CoreWeave projects 2026 revenue of $12–$13 billion and annualized revenue of $30 billion by 2027.
- Despite 71.7% gross margins, CoreWeave's high debt and negative operating income raise financial concerns.
- Cantor Fitzgerald initiated coverage with an 'Overweight' rating and a $149 price target for CRWV stock.
COMPANIES
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