CoreWeave rallies after Dell's strong AI forecast

Shares of AI-focused cloud provider CoreWeave Inc CRWV.O advancing 5.8% on Weds to $75.41 after Dell's DELL.N strong forecast

CRWV on course for biggest one-day pct gain since Oct 24

Dell late Tues raised its fiscal 2026 AI server rev forecast to $25 bln from prior view of $20 bln, signaling robust demand from its customer base

Its AI server backlog grew to $18.4 bln by the end of fiscal Q3, fueled by $12.3 bln in new orders, underscoring the scale of investment by firms like CoreWeave

Earlier this month, CoreWeave trimmed its annual rev forecast, hurt by a delay at a third-party data center partner

Despite the gain on the session, CRWV has shed ~44% in Nov

CoreWeave IPOd in Mar at $40. The stock hit intraday post-listing peak of $187 on Jun 20

Of 31 analysts covering CRWV, recommendation breakdown is 15 "strong buy" or "buy", 13 "hold" and 3 "sell" ratings, per LSEG data

Median PT of $127.88 down from $150 a month ago