CoreWeave (CRWV) Stock on December 4, 2025: Price, Latest News, Analyst Targets and AI Cloud Outlook

CoreWeave, Inc. (NASDAQ: CRWV) is one of 2025’s most closely watched AI infrastructure IPOs. As of mid‑day on December 4, 2025, the AI cloud provider’s stock is trading in the low‑$80s, giving it a market capitalization of roughly $41 billion after more than doubling year to date – yet still sitting over 50% below its summer peak near $187. ^[1]

Today’s news flow underscores why CoreWeave divides opinion. The company has:

Secured a fresh $555 million loan to help fund a $1.8 billion, 250‑megawatt data center project in New Jersey, deepening its already aggressive build‑out. ^[2]
Attracted new institutional interest from Sapphire Ventures, even as insiders and early investors continue to take profits. ^[3]
Drawn a new wave of bullish and bearish research after a brutal ~45% share‑price plunge in November triggered by a guidance cut and concerns over heavy leverage. ^[4]

Below is a detailed look at where CoreWeave stock stands now, what the latest headlines mean, and how Wall Street is framing the upside and downside from here.

CoreWeave stock today: price, valuation and volatility

Market data as of late morning on December 4, 2025 show CRWV trading around $83 per share, up about 4–5% on the day. That equates to: ^[5]

Market cap: ~$41.4 billion
52‑week range: $33.51 – $187.00
Performance: +~108% year‑to‑date, but down more than 55% from the 52‑week high
Revenue (TTM): ~$4.3 billion
Price‑to‑sales (P/S): ~9.6×
Enterprise value / sales (EV/Sales): ~13.4×
Debt‑to‑equity (D/E): ~4.85×
Quick & current ratio: ~0.49×

In plain English: CoreWeave is still priced like a high‑growth tech winner, but it is heavily leveraged and only modestly liquid. The stock’s violent swings – soaring after its March IPO, then crashing nearly half in November – reflect how sensitive investors have become to even small changes in its growth trajectory and financing profile. ^[6]

December 4 headlines: new $555M loan and fresh institutional interest

Another big loan for a massive New Jersey data center

The most concrete news today is that CoreWeave has obtained a $555 million loan from GLAS USA to fund its ongoing data‑center conversion at 2000 Galloping Hill Road in Kenilworth, New Jersey. ^[7]

Key details:

The project is valued at $1.8 billion and is designed to deliver 250 megawatts of power capacity once completed.
It involves converting a former Merck R&D complex into a 392,600‑square‑foot data center, combining the redevelopment of an existing 280,700‑square‑foot building with additional new space. ^[8]
Construction began in September 2025, with operations expected in 2027.
The project benefits from about $250 million in tax‑credit financing under New Jersey’s AI‑focused “Next New Jersey Program.” ^[9]

The article also notes that, as of the end of Q3 2025, CoreWeave already operated 41 data centers worldwide with roughly 590 megawatts of active power capacity, and is simultaneously investing up to $6 billion in a new campus in Lancaster, Pennsylvania that could eventually deliver 300 MW of capacity. ^[10]

Why it matters for the stock:

The loan reinforces CoreWeave’s strategy of leveraging debt to build capacity as fast as possible to meet AI demand – but it also adds to an already large pile of obligations.
It also demonstrates confidence from lenders and state authorities that AI compute demand will remain strong well into the late 2020s.
For equity investors, the financing is a reminder that CoreWeave is a high‑capex, debt‑heavy infrastructure story, not just a software‑style growth play.

Sapphire Ventures builds a meaningful stake

In a separate December 4 report, MarketBeat highlights that Sapphire Ventures L.L.C. has disclosed a new position of 28,841 CoreWeave shares, worth about $4.7 million at the time of purchase. That stake represents roughly 5.2% of Sapphire’s overall portfolio, making CRWV its fourth‑largest holding. ^[11]

The same filing and commentary note that:

Several other institutional investors – including Goldman Sachs Group, Gamco Investors, and various regional wealth managers – have initiated smaller positions in CRWV. ^[12]
CoreWeave’s Q3 2025 results beat expectations, with revenue of $1.36 billion vs. $1.28 billion consensus and a per‑share loss of $0.22 vs. $0.36 expected, implying better‑than‑feared profitability. ^[13]
The 12‑month trading range of $33.51–$187 and the company’s negative P/E highlight both the potential upside and the earnings risk. ^[14]

However, the same article points out very substantial insider selling:

Major shareholder Magnetar Financial sold about 1.45 million shares at an average price of $125.60, reducing its stake by ~80%.
In the most recent quarter, insiders collectively sold roughly 30 million shares, worth about $3.93 billion. ^[15]

Takeaway: institutional investors are not uniformly bullish or bearish. Some, like Sapphire Ventures and Cathie Wood’s ARK Invest (which reportedly added ~350,000 shares after a post‑earnings drop), are buying the dip, while others – including several hedge funds – have been locking in IPO gains. ^[16]

Fundamentals: AI “picks‑and‑shovels” with a huge backlog

CoreWeave describes itself as “The Essential Cloud for AI” – a specialized cloud provider focused on renting Nvidia GPU clusters and AI‑optimized infrastructure rather than broad, general‑purpose compute. ^[17]

Over the last two years, the company has rapidly scaled from a niche GPU renter into a global data‑center player:

Operates dozens of data centers and hundreds of thousands of Nvidia GPUs, according to recent institutional research summaries. ^[18]
Became one of the first clouds to offer Nvidia GB200 and later GB300 “Blackwell” clusters at scale, positioning itself as a go‑to platform for frontier AI training. ^[19]
Has signed multi‑billion‑dollar contracts with OpenAI, Meta Platforms and Nvidia, effectively becoming a core part of their external AI compute supply chain. ^[20]

Q3 2025: explosive growth plus a massive backlog

In its third‑quarter 2025 results, CoreWeave reported: ^[21]

Revenue: $1.36 billion, up from $584 million a year earlier (~134% year‑over‑year growth).
Adjusted EBITDA: $838 million, implying a 61% adjusted EBITDA margin, remarkably high for such rapid top‑line growth.
GAAP operating income: about $52 million, for a 4% operating margin, down from 20% a year earlier due to higher opex and depreciation.
Net loss: ~$110 million, an 8% net loss margin, driven largely by $310+ million in net interest expense.

Crucially, CoreWeave’s revenue backlog – essentially the value of contracted future revenue – reached $55.6 billion as of September 30, 2025, almost 10× its expected 2025 revenue. ^[22]

Key contract highlights from management and subsequent reporting include: ^[23]

An “up to $14.2 billion” multi‑year deal with Meta for next‑generation AI workloads.
An expanded OpenAI agreement bringing total commitments to about $22.4 billion over multiple contracts.
A $6.3 billion capacity order from Nvidia, under which Nvidia agrees to buy any cloud capacity not sold to other customers – effectively backstopping utilization.
A $1.17 billion storage partnership with VAST Data, which becomes CoreWeave’s primary data platform provider for many AI workloads.

These deals are why many analysts describe CoreWeave as a “picks‑and‑shovels” play on generative AI: if AI labs and enterprises keep training larger models, they’ll need GPU clouds like CoreWeave’s regardless of which specific applications win.

The guidance cut and the November crash

Despite those impressive numbers, the stock’s narrative changed dramatically after Q3.

In commentary around the results, CoreWeave trimmed its full‑year 2025 revenue guidance from roughly $5.15–$5.35 billion to $5.05–$5.15 billion, citing data‑center delivery delays and the timing of major customer ramp‑ups rather than a collapse in demand. ^[24]

Equity research from Zacks and others highlighted several points: ^[25]

Q3 sales grew strongly, but the growth rate is decelerating as the company laps earlier hyper‑growth.
CoreWeave remains unprofitable on a GAAP basis, with sizeable interest costs and shrinking operating margins.
The guidance cut, even if mostly timing‑related, shook confidence in the “up‑and‑to‑the‑right” story and fed fears that AI demand might be peaking for some infrastructure names.

The result: CRWV endured a roughly 45% plunge in November, part of what Barron’s and others dubbed a “neocloud crash” as high‑flying AI infrastructure stocks re‑rated lower on valuation and balance‑sheet concerns. ^[26]

A highly leveraged balance sheet

Analysts and financial bloggers have zeroed in on CoreWeave’s debt load:

Third‑party analyses estimate over $14 billion in debt and similar obligations, much of it tied to GPU‑backed credit facilities and project financing. TechStock²+1
Net interest expense topped $840 million over the first nine months of 2025, according to aggregated figures that incorporate the Q3 results. TechStock²+1
Finviz data show a Debt/Equity ratio of ~4.85×, with quick and current ratios of just 0.49×, underscoring limited short‑term liquidity relative to obligations. ^[27]

Layering today’s $555 million New Jersey loan on top of existing facilities deepens the “high‑growth but highly leveraged” character of the story. Bulls see leverage as a rational way to pre‑fund capacity while AI demand is exploding; bears worry about what happens if the cycle slows or financing conditions tighten further.

What Wall Street and big investors expect

Analyst ratings and price targets

Across major data providers, CoreWeave still carries a broadly positive but divisive analyst profile:

Barchart cites 28 analysts covering CRWV, with about 13 “Strong Buy,” 1 “Moderate Buy,” 13 “Hold,” and 1 “Strong Sell” – a “Moderate to Strong Buy” consensus overall. ^[28]
The average 12‑month price target sits around $131–$131.23, implying roughly 70–80% upside from the current low‑$80s level.
The Street‑high target is near $200, while the low end (e.g., an “underperform” call from DA Davidson) sits around $36 – an enormous spread that reflects genuine disagreement about risk and reward. ^[29]

Finviz’s summary shows a consensus recommendation score of ~2.1 on a 1–5 scale (where 1 is “Strong Buy” and 3 is “Hold”), consistent with a tilt toward “Buy” but not unanimity. ^[30]

Revenue and earnings expectations

Recent forecast snapshots indicate: ^[31]

2025 revenue around $5.05–$5.15 billion, in line with CoreWeave’s reduced guidance.
2026 revenue projections in the $11–12+ billion range – implying roughly 130% year‑over‑year growth, assuming the company can bring new data centers online and convert backlog into active workloads.
2025 EPS expectations around –$1.39, improving from earlier estimates of –$1.52.
2026 EPS estimates near –$0.07, suggesting the company could be on the cusp of breakeven but not yet sustainably profitable.

Some long‑term models mentioned in recent commentary talk about CoreWeave reaching positive GAAP earnings later in the decade, but those views depend heavily on assumptions about AI capex growth, interest rates and execution.

Who’s buying and who’s selling?

Recent filings and commentary show a split tape among sophisticated investors: ^[32]

Buying the dip:
- Sapphire Ventures made CRWV its 4th‑largest holding.
- ARK Invest, run by Cathie Wood, added about 350,000 shares (~$24 million) after a steep post‑earnings slide, framing CoreWeave as a long‑term AI infrastructure winner.
Trimming or exiting:
- Some hedge funds, including firms like Coatue, have been reported as taking profits after the IPO spike.
- Insider sales have been significant, with tens of millions of shares sold in the last quarter alone.

Meanwhile, Finviz shows short interest at roughly 10% of the free float, indicating a non‑trivial cohort of investors betting against the stock – but not an extreme level that would by itself guarantee a future short squeeze. ^[33]

The bull case: why some say CoreWeave is a buy under $100

Pro‑CoreWeave arguments in recent research from Barchart, Motley Fool, TS2 and others tend to cluster around a few themes: ^[34]

“Picks‑and‑shovels” for the AI boom
- CoreWeave doesn’t depend on a single AI app; it rents GPUs and AI‑optimized infrastructure to OpenAI, Meta, hyperscalers and AI‑native startups. If generative AI usage continues to expand, CoreWeave can grow even if individual applications churn.
Huge, multi‑year backlog and marquee customers
- A $55.6B backlog tied to long‑term contracts with global AI leaders gives unusual revenue visibility for a company that listed less than a year ago.
- New deals (like the Meta contract, Nvidia capacity order, and VAST Data partnership) suggest the ecosystem is still deepening, not drying up.
Strong underlying unit economics at scale
- A 61% adjusted EBITDA margin in Q3 – despite heavy ramp‑up costs – suggests the core business can be highly profitable before interest and depreciation.
- Bulls argue that as facilities mature and financing is refinanced at better terms, more of those economics will drop to the bottom line.
Valuation reset after the crash
- The stock traded at far higher P/S multiples when it first surged above $150–$180; after the recent sell‑off, bulls see single‑digit P/S and EV/Sales in the low‑teens as more defensible given growth and backlog. ^[35]
High‑profile endorsement from growth‑oriented analysts
- Wedbush’s Dan Ives recently re‑included CoreWeave in his “AI 30” top picks list, calling it one of his favorite ways to play the next phase of AI infrastructure spending going into 2026. ^[36]
- Several pieces note that the Street’s average target (~$131) implies 70–80% upside, and the bull case target (~$200) would represent a potential double from current levels if execution goes right. ^[37]

In this view, CoreWeave is a volatile but compelling growth stock: today’s leverage and swings are the price of owning a first‑mover in a potentially decade‑long AI build‑out.

The bear case: debt, concentration and the fragility of the AI trade

Cautious and bearish pieces – from outlets like Zacks, Forbes, Seeking Alpha, 24/7 Wall St. and several Motley Fool contributors – emphasize a very different set of facts: ^[38]

Heavy leverage and rising interest burden
- With debt measured in the mid‑teens of billions, interest expense already exceeding $300 million per quarter, and new loans like today’s $555M facility, CoreWeave’s capital structure is undeniably aggressive.
- If rates stay higher for longer or lenders become more cautious about GPU‑backed financing, refinancing risk could become a serious overhang.
Execution risk in a capital‑intensive build‑out
- The guidance cut was tied to data‑center delivery delays, showing how quickly construction and supply‑chain issues can ripple into financial results.
- With multiple multi‑billion‑dollar campuses underway (New Jersey, Pennsylvania, UK, etc.), any pattern of delays or cost overruns could force further guidance cuts or additional dilutive financing.
Customer concentration
- Public filings and third‑party analysis indicate that CoreWeave’s top two customers accounted for around three‑quarters of revenue in 2024, with the largest single customer making up more than 60%. ^[39]
- Losing or renegotiating even one of these major contracts would materially hit revenue and could strand capacity.
Systemic worries about GPU‑backed and “circular” financing
- Some short sellers and commentators have raised concerns that the AI ecosystem – including CoreWeave and its partners – is leaning heavily on debt secured by Nvidia GPUs and complex financing arrangements that may prove fragile in a downturn. ^[40]
- Articles about an emerging “AI debt bubble” argue that defaults in these structures could ripple through banks, chipmakers and AI clouds simultaneously.
Proof that the AI trade can break quickly
- Seeking Alpha and Barron’s note that CoreWeave’s November collapse spooked broader AI and “neocloud” valuations, illustrating how crowded and sentiment‑driven the trade has become. ^[41]
- Bears argue that even if AI demand is real, the stocks may still be in a bubble, with CoreWeave a prime example of what happens when expectations get too far ahead of fundamentals.
Insider selling and IPO overhang
- With around 30 million insider shares sold in the last quarter and early investors like Magnetar significantly reducing their positions, skeptics worry that those closest to the story are taking money off the table aggressively. ^[42]

Put simply: while bulls see a high‑growth infrastructure leader, bears see a leveraged bet on a still‑unproven AI spending cycle, where missteps or macro shocks could hit both earnings and the stock far harder than most investors expect.

What could move CoreWeave stock next?

Given how polarizing CRWV has become, several catalysts could swing sentiment in the months ahead:

Q4 2025 results and 2026 guidance
- Investors will pay close attention to whether management reaffirms or tweaks the $5.05–$5.15B revenue range and how aggressively they guide for 2026 revenue and margins.
- Any signs of improving GAAP profitability or lower interest expense could ease leverage concerns; another guidance cut could reignite selling. ^[43]
Updates on construction and capacity
- Progress (or further delays) at the New Jersey and Pennsylvania campuses will shape the narrative around execution risk. ^[44]
New or expanded mega‑deals
- Additional multi‑year contracts with hyperscalers, global banks, or public‑sector agencies would reinforce the idea that CoreWeave is a long‑term, entrenched part of the AI infrastructure stack. ^[45]
Debt‑market and regulatory developments
- Regulatory scrutiny of GPU‑backed financing or changes in banks’ appetite for AI‑related project finance could materially impact CoreWeave’s cost of capital. TechStock²+1
Macro AI sentiment
- Because CRWV is often used as a high‑beta proxy for AI infrastructure, broader shifts in risk appetite for AI stocks – positive or negative – are likely to move the name disproportionately.

Bottom line: high‑beta AI infrastructure with real upside and real risk

As of December 4, 2025, CoreWeave represents:

A fast‑growing AI cloud specialist with triple‑digit revenue growth, industry‑leading adjusted margins and a $55+ billion backlog anchored by OpenAI, Meta, Nvidia and other top‑tier customers. ^[46]
A highly leveraged balance sheet, reliant on continued access to debt markets and flawless execution of multi‑billion‑dollar data‑center projects. ^[47]
A polarizing stock where Wall Street’s average price target implies 70–80% upside, but where recent price action has already shown how quickly sentiment can swing.

For investors:

Aggressive, long‑term growth investors who believe in a sustained AI infrastructure super‑cycle may view CRWV under $100 as a high‑risk, high‑reward entry point, provided they size positions conservatively and accept significant volatility.
More conservative or income‑focused investors may prefer to watch from the sidelines until CoreWeave demonstrates consistent GAAP profitability, lower leverage, and smoother execution.

As always, this article is informational only and not financial advice. Before buying or selling any stock – especially one as volatile as CoreWeave – it’s important to do your own research, stress‑test your assumptions, and consider speaking with a licensed financial adviser.