CoreWeave falls 20% over three months, but analyst sees 65% upside ahead

CoreWeave, the GPU cloud computing company that literally started as a crypto mining operation, has shed roughly 20% of its value over the past three months. Wall Street, apparently undeterred, thinks the stock could rally 65% or more from current levels. The NASDAQ-listed company (CRWV) has been trading in the $70 to $90 range recently, with consensus analyst price targets sitting between $127 and $136. Some projections stretch as high as $250. From Ethereum rigs to AI powerhouse The company was born as Atlantic Crypto in September 2017, focused squarely on Ethereum GPU mining. Then the 2018 crypto crash happened, and the founders pivoted the entire operation toward cloud computing and high-performance computing services in 2019, effectively repurposing their GPU expertise for the AI boom that was still years away from mainstream consciousness. CoreWeave has since built out its own data centers across the US and Europe, positioning itself as a specialized alternative to the hyperscalers like AWS, Azure, and Google Cloud. The Core Scientific deal that wasn’t In July 2025, the company announced a $9 billion all-stock acquisition of Core Scientific, the Bitcoin mining and HPC hosting...