CoreWeave, Inc. (NASDAQ:CRWV) shares are trailing Nebius Group N.V. (NASDAQ:NBIS) one year after its IPO, as investors grow wary of mounting losses tied to its aggressive AI infrastructure buildout.

Stock Gap Driven By Financial Concerns

Over the past year, CoreWeave has lagged Nebius as investors focus less on competitive positioning and more on balance-sheet strength and capital intensity.

The stock is up more than 22% year to date, compared with Nebius’s over 37% gain.

Paul Meeks, head of technology research at Freedom Capital Markets, told Bloomberg on Wednesday that CoreWeave’s underperformance versus Nebius is not due to a riskier business model, but rather its heavier balance-sheet burden. Nebius, he noted, maintains a cleaner financial position and has been less aggressive in building out infrastructure.

Felix Wang, tech sector head at Hedgeye Risk Management, said CoreWeave depends heavily on a small number of hyperscaler contracts to drive investor interest.

Sector Sell-Off Highlights Financing Risks

The neocloud sector came under pressure recently after financing concerns at CoreWeave triggered a broader sell-off across rivals such as Nebius and Applied Digital Corp. (NASDAQ:APLD).

The reaction underscored investor concerns about the capital-intensive nature of AI infrastructure and reliance on debt and private credit.

Truist analysts, led by Arvind Ramnani, told Bloomberg that companies in the space will likely need continued financing to support expansion.

Analysts See Strong Long-Term Demand

Despite near-term pressure, Bank of America Securities analysts reinstated coverage of CoreWeave with a Buy rating and a $100 price target, noting that the company is well-positioned to gain share in the AI infrastructure market.

They highlighted strong demand for compute, proprietary software, and partnerships with Nvidia Corp. (NASDAQ:NVDA) and OpenAI as key drivers, adding that AI growth—especially agentic AI—will continue to increase infrastructure needs. The analysts said supply and capacity constraints are likely to persist through 2029, supporting demand.

They also expect steady GPU deliveries, new data center capacity, and additional contracts to drive rapid growth, projecting revenue to rise 144% in 2026 and 86% in 2027.

Technical Analysis

CoreWeave is trading 6.5% above its 20-day SMA, but 0.7% below its 100-day SMA, showing short-term stabilization while the intermediate trend is still being tested. Shares are up 118.95% over the past 12 months and are currently positioned closer to the middle of their 52-week range than the extremes.

RSI is at 54.56, in neutral territory, suggesting momentum isn’t stretched in either direction. Meanwhile, MACD is at -1.0423 versus a signal line of -2.0141, a bullish configuration that points to improving upside momentum even as the stock remains below some key longer-term averages.

The combination of neutral RSI (above 50) and bullish MACD suggests mixed momentum.

  • Key Resistance: $88.00
  • Key Support: $70.50

Earnings & Analyst Outlook

Looking further out, the next major catalyst for the stock arrives with the May 13, 2026 (estimated) earnings report.

  • EPS Estimate: $-1.22 (Down from a loss of 60 cents YoY)
  • Revenue Estimate: $1.96 Billion (Up from 98 cents Billion YoY)
  • Valuation: P/E ratio not provided

Analyst Consensus & Recent Actions: The stock carries a Buy Rating with an average price target of $123.04. Recent analyst moves include:

  • Evercore ISI Group: Outperform (Lowers Target to $120.00) (Mar. 9)
  • Oppenheimer: Initiated with Outperform (Target $140.00) (Mar. 6)
  • Bernstein: Initiated with Underperform (Target $56.00) (Mar. 5)

Top ETF Exposure

  • ARK Next Generation Internet ETF (NYSE:ARKW): 3.33% Weight
  • Renaissance IPO ETF (NYSE:IPO): 11.11% Weight
  • Tradr 2X Long CRWV Daily ETF (NASDAQ:CWVX): 169.41% Weight

Significance: Because CRWV carries such a heavy weight in these funds, any significant inflows or outflows will likely trigger automatic buying or selling of the stock.

Price Action

CRWV Price Action: CoreWeave shares were down 1.64% at $86.14 during premarket trading on Thursday, according to Benzinga Pro data.

Photo by PJ McDonnell via Shutterstock