Bank of America raised its revenue growth estimates for CoreWeave in 2027 and 2028 on Oct. 15, a day after shares in the AI cloud provider dropped 15.5%.
The bank left its $140 price target and Buy rating intact. It raised its projected 2027 revenue growth to 105% from 102% and its 2028 estimate to 63% from 58%.
Bank of America’s projections factor in 1.4 gigawatts to 1.5 gigawatts of new power capacity in each year. The model puts active capacity at 4.8 gigawatts at the end of 2028. CoreWeave had 1.5 gigawatts of active capacity and about 3.7 gigawatts of contracted capacity as of June 30.
CoreWeave reported revenue of $2.575 billion for the quarter ended June 30, 2026, up from $1.212 billion in the year-earlier quarter. The company recorded a net loss of $626 million.
As of June 30, CoreWeave reported about $104 billion in revenue backlog. The figure did not include more than $25 billion in customer commitments the company secured early in the third quarter. CoreWeave’s backlog includes amounts contingent on delivery and service availability.
