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Nvidia’s Investment in CoreWeave
Nvidia (NASDAQ: NVDA) has revealed that it holds 24,277,573 shares in CoreWeave (NASDAQ: CRWV), equivalent to a market value of over $3.9 billion, comprising 91% of its $4.3 billion investment portfolio. CoreWeave has recently reported a quarterly revenue increase, tripling from the year-earlier period.
Analyst Greg Miller from Citizens JMP has upgraded CoreWeave’s rating to “outperform” with a price target of $180, indicating a projected increase of 35% from its closing price on September 22. The GPU-as-a-Service (GPUaaS) market is anticipated to grow at a compound annual growth rate of 30%, reaching over $73 billion in seven years.
CoreWeave shares have surged more than 230% since its IPO in March, and Nvidia’s agreement to purchase any unsold cloud capacity through 2032 mitigates risks for CoreWeave. This positions CoreWeave as a notable player in the AI infrastructure space.
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