NEW YORK, August 4, 2026, 15:06 EDT CoreWeave (CRWV.O) stock rose 9% after the company’s expansion in Indonesia’s AI sector increased its total contracted power by 10%.
- CoreWeave climbed 9.0% to $93.50 as of 14:51 EDT. U.S. markets were still open.
- Three sites in Indonesia are set to contribute 360 megawatts—representing roughly 10% of the reported contracted capacity. The facilities are scheduled to come online in 2028.
- Piper Sandler NYSE:PIPR initiated coverage and set a price target of $151. CoreWeave is scheduled to announce its second-quarter earnings on August 11.
CoreWeave stock gained roughly 9% on Tuesday, supported by two new developments. The company revealed plans for its initial data center project in the Asia-Pacific region. In addition, Piper Sandler started coverage with an Overweight rating.
The Indonesia initiative brings a total of 360 megawatts through three locations, representing around 10% of CoreWeave’s publicly announced contracted capacity. The facilities are anticipated to become operational by 2028.
Tuesday’s price increase automatically boosted market value by approximately $4.1 billion. This amounts to nearly $11.3 million for each megawatt announced. The figure does not represent a project valuation. Gains were also supported by a wider technology sector rally.
| Company | Price | Tuesday move | Piper rating | Target | Implied target return |
|---|---|---|---|---|---|
| CoreWeave NASDAQ:CRWV | $93.50 | up 9.0% | Overweight | $151 | up 61.5% |
| Nebius Group NASDAQ:NBIS | $227.59 | up 7.1% | Neutral | $224 | down 1.6% |
Prices reflect levels as of around 14:51 EDT. Target returns are based on Piper’s officially released targets.
CoreWeave surpassed Nebius by close to two percentage points. Around that period, the Nasdaq Composite rose approximately 2.7%. While the wider rally accounts for some of the movement, it does not fully explain it.
Piper analyst James Fish identified CoreWeave as the option with a more favorable risk profile. He pointed to “a better risk-reward associated with CRWV.” Piper forecasts that AI-compute demand will outpace supply. Investing.com
Chief Operating Officer Sachin Jain described Indonesia as a local-compute investment. “CoreWeave goes where we can bring AI pioneers the capacity, performance, and reliability they need,” he said. CoreWeave
| Capacity measure | March 31 baseline | Indonesia addition | Mechanical comparison |
|---|---|---|---|
| Operating data centers | 49 | 3 planned locations | 52 upon launch |
| Active power | Above 1,000 MW | 360 MW planned | Below 36% of current total |
| Contracted power | Above 3,500 MW | 360 MW | More than 3,860 MW |
| Increase in contracted power | — | — | Approximately 10% |
| Average Indonesian site | — | 120 MW | Three facilities of equal size |
| Expected service date | Current footprint operational | 2028 | No immediate revenue effect |
Each of the three Indonesian locations has a typical capacity of 120 MW. Previously released figures indicated active capacity exceeding 1 GW, with contracts totaling 3.5 GW. With the inclusion of Indonesia, the minimum contracted capacity moves above 3.86 GW.
The next test is scheduled for next week. CoreWeave plans to release its second-quarter earnings on August 11 at 17:00 EDT. The company’s earlier revenue guidance ranged between $2.45 billion and $2.60 billion.
| First-quarter metric | Q1 2026 | Q1 2025 | Difference |
|---|---|---|---|
| Revenue | $2.078 billion | $982 million | +112% |
| Adjusted EBITDA | $1.157 billion | $606 million | +91% |
| Adjusted EBITDA margin | 56% | 62% | -6 percentage points |
| Net interest expense | $536 million | $264 million | +103% |
| Net loss | $740 million | $315 million | +135% |
Revenue for the first quarter more than doubled, as did net interest expense. Net loss increased at a higher rate than sales, and the adjusted EBITDA margin contracted by six points.
Funding is still the main limitation. As of March 31, CoreWeave had $25.1 billion in debt and $10.1 billion of lease liabilities. The company anticipates capital expenditure between $31 billion and $35 billion this year. A recent loan sale of $2.6 billion was marketed with yields higher than 10% after its terms were revised.
Customer concentration continues to be high. In the first quarter, CoreWeave’s two largest customers accounted for approximately 65% of its revenue. The company anticipates this concentration will continue, as its major contracts have multi-year terms.
Potential risks involve delays in construction, limited power supply, and increasing borrowing expenses. A further vulnerability stems from reliance on a concentrated customer base. Reduced AI investment could lower utilization rates and make securing funding more difficult.
CoreWeave’s move into Indonesia increases its geographic presence but does not immediately impact revenue. Investors are expected to focus on factors like power activation, capital expenses, and the August 11 results.
