BofA Securities analyst Tal Liani raised price targets for CoreWeave Inc (NASDAQ:CRWV) and Nebius Group NV (NASDAQ:NBIS) to reflect strong AI compute demand.

The Ratings and Price Targets: The analyst has Buy ratings on both companies. He raised the price target for CoreWeave from $100 to $120 and for Nebius Group from $150 to $175.

The Thesis: Both CoreWeave and Nebius have recently won contracts due to strong AI infrastructure demand, Liani said.

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He raised the revenue growth estimates for CoreWeave by 800 basis points (bps) to 94% for fiscal 2027 and by 300 bps to 50% for fiscal 2028. This reflects expanded commitments from Meta Platforms Inc (NASDAQ:META) and a new strategic agreement with AI safety and research startup Anthropic.

Last week, Meta signed an agreement to extend its contract by $21 billion through 2032. This brings the total contract value to approximately $35 billion. CoreWeave would provide dedicated AI cloud capacity across multiple sites to Meta. Also, the Facebook parent company gains early access to Nvidia Corp's (NASDAQ:NVDA) Vera Rubin architecture.

CoreWeave, Anthropic

CoreWeave announced a multi-year agreement with Anthropic to support workloads for Claude. According to Liani, Anthropic’s rapid growth, scaling ARR from $1 billion to over $30 billion in 15 months, “suggests meaningful deal size with expansion potential.” This agreement enhances CoreWeave’s customer diversification, adding Anthropic alongside existing customers such as OpenAI, Google, and Microsoſt.

Although the analyst maintained the estimates for Nebius, he said that the "scale and structure of recent hyperscaler contracts, combined with ongoing capacity expansion at new data centers in Finland and Alabama, further validate its position as a core supplier within the global AI infrastructure ecosystem."

Nebius’s large hyperscaler backlog, which includes Meta’s contract worth around $27 billion and an agreement with Microsoft Corp (NASDAQ:MSFT) to provide dedicated GPU infrastructure capacity. 

Nvidia's $2 billion strategic investment and commitment also reinforces "Nebius’s positioning as a preferred AI cloud provider," Liani added.

CRWV, NBIS Price Action: Shares of both CoreWeave and Nebius Group had risen by more than 8% to $110.84 and $157.41, respectively, at the time of publication on Monday.

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