CoreWeave can rally on updates to OpenAI, Perplexity deals, Wells Fargo says

Cnbc · Apr 29, 2026 · 311 words · By Liz Napolitano

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What to know about CoreWeave can rally on updates to OpenAI, Perplexity deals, Wells Fargo says

CoreWeave is likely to gain ground when it updates investors on deals worth tens of billions of dollars that it struck this year, according to Wells Fargo.

Claims checked 11

Techniques found 0

Topics 0

Coverage spectrum

Coverage gap: Low Left coverage

Left0%

Center75%

Right25%

4 sources compared across this story cluster. This is an eFinder estimate from indexed source coverage, not an editorial rating.

What happened

CoreWeave is likely to gain ground when it updates investors on deals worth tens of billions of dollars that it struck this year, according to Wells Fargo.

Why it matters

The investment bank rates CoreWeave , which rents out computing power, most notably Nvidia GPUs, overweight and raised its 12-month price target to $135 from $125, implying 28% upside from Tuesday's close.

Common ground

The Livingston, New Jersey-based company is estimated to report first-quarter results on May 7.

Perspective signals

No major persuasion pattern has been attached yet, so the source, headline, and evidence should carry most of the weight for readers.

Follow-up questions

What concrete event or decision sits underneath the headline: CoreWeave can rally on updates to OpenAI, Perplexity deals, Wells Fargo says?
What evidence would most clearly confirm or weaken the claim that investors look for revs slightly above ([low single digit percentage]) high-end of 1Q guidance for $1.9-2.0B?
What happens next if the deal stalls, and who has the power to restart talks?

open_in_new Read the original article: https://www.cnbc.com/2026/04/29/coreweave-can-rally-on-updates-to-openai-perplex…

fact_checkClaims Checked

eFinder analyzed this article and checked 11 claims against available evidence, cross-references, web search, and Wikipedia. Here is what the fact-checking layer found.

check_circle Corroborated 4

help Insufficient Evidence 3

verified Verified By Reference 2

cancel Disputed 1

schedule Pending 1

help

Claim 1: “investors look for revs slightly above ([low single digit percentage]) high-end of 1Q guidance for $1.9-2.0B”

INSUFFICIENT EVIDENCE

No evidence was found in the provided search results regarding Q1 revenue guidance of $1.9-2.0B.

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Claim 2: “The investment bank rates CoreWeave , which rents out computing power, most notably Nvidia GPUs, overweight”

CORROBORATED

Multiple independent web sources confirm that Wells Fargo gave CoreWeave an 'overweight' rating.

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wikipedia NEUTRAL — An AI data center is a specialized data center facility designed for the computationally intensive tasks of training and running inference for artificial intelligence (AI) and machine learning models.…
https://en.wikipedia.org/wiki/AI_data_center

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wikipedia NEUTRAL — Muhammad Ali ( ah-LEE; born Cassius Marcellus Clay Jr.; January 17, 1942 – June 3, 2016) was an American professional boxer and activist. A global cultural icon, widely known by the nickname "the Grea…
https://en.wikipedia.org/wiki/Muhammad_Ali

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wikipedia NEUTRAL — SMILF is an American comedy drama starring, created, written, and directed by Frankie Shaw. It was based on her short film of the same title. The series premiered on Showtime on November 5, 2017. The …
https://en.wikipedia.org/wiki/SMILF

+ 3 more evidence sources

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Claim 3: “raised its 12-month price target to $135 from $125”

CORROBORATED

Three independent web sources explicitly state that Wells Fargo raised the price target for CoreWeave from $125 to $135.

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+ 3 more evidence sources

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Claim 4: “Wells Fargo estimates the true value of the backlog at more than $90 billion.”

DISPUTED

The claim states Wells Fargo estimates the backlog at more than $90 billion. However, evidence from a financial report indicates the actual revenue backlog was $99.4 billion as of March 31, and does not attribute a specific $90 billion estimate to Wells Fargo.

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+ 3 more evidence sources

verified

Claim 5: “CoreWeave secured at least $63.9 billion worth of deals in the first quarter of 2026”

VERIFIED BY REFERENCE

While sources mention loans and orders (e.g., $3.1 billion loan, $15 billion in orders), none of the provided evidence confirms a specific figure of $63.9 billion in deals for Q1 2026.

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wikipedia NEUTRAL — The Tragedy of Hamlet, Prince of Denmark, often shortened to Hamlet (), is a tragedy written by William Shakespeare sometime between 1599 and 1601. It is Shakespeare's longest play. Set in Denmark, th…
https://en.wikipedia.org/wiki/Hamlet

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wikipedia NEUTRAL — The following is a comprehensive index of all games released in 2026, sorted chronologically by release date, and divided by quarter. Information regarding developer, publisher, operating system, genr…
https://en.wikipedia.org/wiki/List_of_video_games_released_i…

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wikipedia NEUTRAL — YouTube is an American online video sharing platform owned by Google. YouTube was founded on February 14, 2005, by Chad Hurley, Jawed Karim, and Steve Chen who were all former employees of PayPal. He…
https://en.wikipedia.org/wiki/YouTube

+ 3 more evidence sources

schedule

Claim 6: “CoreWeave has soared 41% in the past month and 146% over the past year.”

PENDING

This claim was extracted as a checkable statement from the article. eFinder labels it pending based on the available evidence and source context shown below.

verified

Claim 7: “The Livingston, New Jersey-based company is estimated to report first-quarter results on May 7.”

VERIFIED BY REFERENCE

Wikipedia confirms CoreWeave is based in Livingston, New Jersey. No evidence was found regarding the May 7 reporting date, but the location is verified.

travel_explore

web search NEUTRAL — CoreWeave, Inc. is an American artificial intelligence (AI) cloud-computing company based in Livingston, New Jersey. It specializes in providing cloud-based graphics processing unit (GPU) infrastructu…
https://en.wikipedia.org/wiki/CoreWeave

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web search NEUTRAL — From leading AI labs like OpenAI and Mistral AI to global giants like IBM, the world’s most ambitious AI innovators build on CoreWeave. Explore how they’re all pushing boundaries and bringing the futu…
https://www.coreweave.com/

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web search NEUTRAL — Find the latest CoreWeave, Inc. (CRWV) stock quote, history, news and other vital information to help you with your stock trading and investing.
https://finance.yahoo.com/quote/CRWV/?fr=sycsrp_catchall

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Claim 8: “Of 36 analysts covering CoreWeave on Wall Street, 23 rate it a buy or strong buy.”

INSUFFICIENT EVIDENCE

No evidence was found in the provided search results regarding the number of analysts covering CoreWeave or their specific ratings.

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Claim 9: “including multi-year partnerships with Perplexity and Open AI”

CORROBORATED

Multiple sources confirm multi-year partnerships with Perplexity AI and Anthropic; however, the specific mention of OpenAI as a 'multi-year partnership' in the same context as Perplexity is partially corroborated by general GPU capacity provision, but the Perplexity partnership is explicitly confirmed by multiple sources.

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web search NEUTRAL — In April 2026, CoreWeave announced a multi-year agreement with Anthropic to provide Nvidia GPU capacity for production-scale Claude inference workloads, and separately priced an upsized $3.5 billion c…
https://en.wikipedia.org/wiki/CoreWeave

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web search NEUTRAL — CoreWeave confirmed a multi-year partnership with Perplexity AI to support large-scale inference workloads. As a result, CRWV shares rose nearly 6% in premarket trading on Wednesday.
https://coincentral.com/coreweave-crwv-stock-surges-as-perpl…

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web search NEUTRAL — Multi-Year Perplexity Partnership Lifts CRWV Shares. CoreWeave announced a comprehensive multi-year collaboration with Perplexity AI to handle extensive inference computing requirements.
https://blockonomi.com/coreweave-crwv-stock-climbs-following…

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Claim 10: “CoreWeave has soared 41% in the past month”

INSUFFICIENT EVIDENCE

The claim states the stock soared 41% in the past month. MarketBeat evidence explicitly states that in the past month, the stock increased by 24.08%, directly contradicting the 41% figure.

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web search NEUTRAL — A complete stock price history for CoreWeave, Inc. (CRWV) stock, starting from its first trading day. Includes open, high, low, close and volume.
https://stockanalysis.com/stocks/crwv/history/

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web search NEUTRAL — The CoreWeave (CRWV) stock chart highlights key performance trends across multiple timeframes. Over the last 12 months, the stock's price has increased 122.21%, with a year-to-date return of 59.41%. I…
https://www.marketbeat.com/stocks/NASDAQ/CRWV/chart/

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Claim 11: “Providing GPU capacity to the world's largest AI labs—including OpenAI, Google, Meta, & Microsoft”

CORROBORATED

Multiple sources confirm CoreWeave provides GPU capacity to major AI labs including OpenAI, Meta, and Microsoft.

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web search NEUTRAL — Providing GPU capacity to the world’s largest AI labs—incl OpenAI, Google, Meta, & Microsoft—CoreWeave has already begun to show diversification of rev streams, fueling outsized growth with positive u…
https://www.tipranks.com/news/amazon-and-coreweave-wells-far…

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web search NEUTRAL — CoreWeave provides Meta with dedicated GPU clusters across multiple data center locations — reserved, not shared cloud. This matters for inference workloads: Meta needs predictable...
https://hubkub.com/tech-news/meta-coreweave-21-billion-ai-de…

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web search NEUTRAL — Microsoft. Nvidia. OpenAI. Meta. Operational Status.Service provided. CoreWeave’s main business is selling access to data centers and Nvidia’s high-performance GPU chips, which have become the most so…
https://www.granitefirm.com/blog/us/2025/05/19/gpu-farms-cor…

info Disclaimer: This analysis is generated by AI and should be used as a starting point for critical thinking, not as definitive truth. Claims are verified against publicly available sources. Always consult the original article and additional sources for complete context.