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AI & Enterprise

Goldman Sachs raises CoreWeave to buy but cuts price target

CoreWeave shares rose more than 6 percent in premarket trading after Goldman Sachs upgraded the stock to buy from neutral, while cutting its price target to $106 from $139. Goldman said the market is overpricing the risk of higher borrowing costs and undervaluing returns from computing assets. It expects annual recurring revenue per megawatt to rise and sees only limited increases in borrowing costs. Other analysts also highlighted growth prospects and key contracts.

AI & Enterprise

Can CoreWeave's business model last after the AI boom ends?

Concerns are growing over neocloud firm CoreWeave’s debt-funded expansion in AI infrastructure after its bonds fell to levels typically classified as distressed. Its shares have dropped more than 20 percent since last Tuesday’s close, with jitters spreading to other AI-related stocks and corporate bonds. CoreWeave’s debt tops $35 billion and it remains unprofitable, though it has $103.7 billion in remaining performance obligations. Investors are also watching the risk of further borrowing.

Crypto

Changpeng Zhao jabs Peter Schiff who stuck to bitcoin at $0: 'He will be right one day'

Binance founder Changpeng Zhao (CZ) publicly mocked longtime bitcoin sceptic Peter Schiff after Schiff acknowledged it is unlikely bitcoin will fall to $0 while maintaining an extreme bearish outlook. Zhao reacted on X to a compilation of Schiff’s past comments and wrote, “He will be right one day... after he changes his mind.” The article recounts Schiff’s repeated predictions since 2011 and his warnings of a potential collapse even as bitcoin rose above $100,000 in 2024.