Stock Market Today, April 13: CoreWeave Surges on Analyst Upgrade and AI Contract Momentum
CoreWeave (NASDAQ:CRWV), a cloud-based GPU infrastructure provider for AI developers, closed Monday at $110.29, up 8.13%. The stock climbed after a Macquarie upgrade and higher price target. After two big announcements last week, investors are watching execution on AI infrastructure contracts as well as leverage from recent financings.
Trading volume reached 53.3 million shares, coming in about 92% above its three-month average of 27.7 million shares. CoreWeave IPO'd in 2025 and has grown 176% since going public.
How the markets moved today
The S&P 500 (SNPINDEX:^GSPC) added 1.01% to finish Monday at 6,886, while the Nasdaq Composite (NASDAQINDEX:^IXIC) gained 1.23% to close at 23,184. Among technology names, Nvidia (NASDAQ:NVDA) closed at $189.31 (+0.36%) and Microsoft (NASDAQ:MSFT) finished at $384.37 (+3.64%), as investors assessed AI infrastructure demand and cloud spending trends.
What this means for investors
After surging on several items of news last week, Wall Street analysts chimed in helping to send CoreWeave stock higher again to start the new trading week. Macquarie upgraded CoreWeave to the equivalent of a buy rating and raised its price target from $90 to $125 per share.
Large AI cloud infrastructure deals were announced last week with Meta Platforms (NASDAQ:META) and Anthropic. CoreWeave also announced an upsized offering of $3.5 billion in convertible notes to help fund AI infrastructure buildout.
Among other analysts, D.A. Davidson raised its price target to $175 per share, while Cantor Fitzgerald maintained its "overweight" rating and set a target of $149, highlighting major AI contracts as crucial growth factors despite concerns about leverage.
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Howard Smith has positions in Microsoft and Nvidia and has the following options: short April 2026 $180 calls on Nvidia. The Motley Fool has positions in and recommends Meta Platforms, Microsoft, and Nvidia. The Motley Fool has a disclosure policy.
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