Evercore ISI Reiterates Outperform Rating on CoreWeave (CRWV)

Evercore ISI analyst Amit Daryanani reiterated an Outperform rating and $150.00 price target on CoreWeave (NASDAQ: CRWV).

The analyst commented: "CoreWeave announced its entry into India through a collaboration with AdaniConneX, adding 240MW of planned data center capacity at the Taloja campus in Navi Mumbai (vs. current capacity at >1.5GW, with target of ~8GW). The initial deployment will span three 80MW buildings, with CRWV as the sole tenant, and feature NVIDIA Vera Rubin to support AI training, inference, reasoning, and agentic workloads. The facilities are designed for high-density AI infrastructure, including direct liquid cooling for GPU halls and a non-evaporative chilled-water system. The first phase is expected to be available in mid-2028, with additional capacity coming online in phases. Notably, this is planned capacity rather than an immediate addition to operating supply. CRWV also intends to establish an Indian office and hire locally, building an on-the-ground presence to work with customers and partners. The expansion follows its recent entry into Indonesia and broadens CRWV’s global footprint across North America, Europe, and APAC. For context, the initial 240MW equates to 5.7% of the 4.2GW contracted power that was announced in August. If the full expansion option is exercised, the data center capacity could rise to 480MW, reaching 11.4% of August’s total. Net/Net: We view the India expansion as another step in CoreWeave’s evolution into a full-service AI cloud, furthering its ability to serve frontier labs, enterprises, and sovereign customers across the full AI workload lifecycle. Bringing Vera Rubin and CRWV’s platform into India extends that proposition into a new market, with the local office and hiring plans supporting customer engagement beyond the infrastructure build itself. The more important longer-term question is how this capacity is monetized, with better long-term contract pricing, inference, and margin-accretive storage, networking, and software services providing potential upside to revenue/MW and profitability. With first-phase availability targeted for mid-2028, this supports CRWV’s longer-term growth runway rather than changing the near-term earnings outlook. Maintain OP and our $150 PT."

For an analyst ratings summary and ratings history on CoreWeave click here. For more ratings news on CoreWeave click here.

Shares of CoreWeave closed at $91.72 yesterday.

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