CRWV Stock Rally Tops 50% As Evercore Sees $1B Revenue Boost From Jane Street Deal

• Assuming a five-year contract duration, Evercore said the deal could also add 100-120 MW of compute capacity for CoreWeave, according to The Fly.
• Jane Street is set to invest $1 billion in CoreWeave at $109 per share.
• CoreWeave recently secured mega deals with Anthropic and Meta Platforms.

Shares of CoreWeave (CRWV) extended their sharp rally, rising over 52% for the month, after the company’s $6 billion AI cloud deal with Jane Street sparked bullish analyst sentiment.

Evercore ISI raised CoreWeave’s price target to $150 from $120 and maintained an ‘Outperform’ rating, after the company secured a $6 billion deal with Jane Street for the use of its AI cloud services. This represents a 27% upside from the current price.

Assuming a five-year contract duration, Evercore said the deal could represent over $1 billion in annual revenue and 100-120 MW of compute capacity for CoreWeave, according to The Fly. The brokerage added that the news “confirms the robust/diverse demand backdrop for AI compute infrastructure.”

CRWV shares were up 1% at the time of writing and are poised to end in the green for a seventh straight session.

Jane Street Also Invests $1 Billion In CoreWeave

The agreement will give Jane Street access to advanced computing power across multiple data centers, including systems built on Nvidia’s Vera Rubin platform, to support its growing AI and machine learning needs.

Alongside the service deal, Jane Street is also investing $1 billion in CoreWeave at $109 per share, representing a 7% discount to the stock’s closing price on Tuesday.

CoreWeave’s Deal Wins Drive April Rally

This is CoreWeave’s third major deal this month, following a partnership with Anthropic and a $21 billion AI infrastructure agreement with META Platforms.

CoreWeave expanded its long-term deal with Meta Platforms last week, agreeing to provide AI cloud capacity through 2032 to support META’s growing AI needs. The infrastructure will be deployed across multiple sites, including early use of the Vera Rubin platform.

CoreWeave also signed a multi-year agreement with Anthropic to support the deployment of its Claude AI models, with computing capacity expected to come online later this year.

How Did Retail Traders React?

Retail sentiment on Stocktwits remained in the ‘extremely bearish’ territory over the past 24 hours, amid ‘extremely high’ message volumes.

One user said the company will ‘potentially dominate’ on the back of the deal wins.

Year-to-date, the stock has gained around 60%.

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