Could CoreWeave (CRWV) Stock Win as AI Demand Continues to Outpace GPU Supply?

CoreWeave (CRWV) stock could potentially benefit from continued AI demand outpacing GPU supply. On August 20, the company announced a multi-year deal with Hudson River Trading (HRT) to utilize its AI cloud platform powered by NVIDIA's Vera Rubin platform. On August 25, CoreWeave added Rescale to its cloud ecosystem, allowing customers in various industries to run demanding simulations alongside AI workloads.

In Q2 2026, CoreWeave reported $2.575 billion in revenue, a 112% increase year-over-year, with adjusted EBITDA doubling to $1.510 billion. However, the company's rapid infrastructure scaling resulted in a 120% increase in operating expenses to $2.624 billion, leading to a GAAP operating loss of $49 million and a net loss of $626 million.

Despite this, Goldman Sachs analyst Gabriela Borges raised the company's price target to $139 from $121, citing strong demand outpacing supply, firm GPU pricing, and a credible path to higher margins. CoreWeave's expanding ecosystem and partnerships appear to justify its aggressive spending, but concerns remain around heavy debt leverage and margin compression.

Institutional interest has increased, with 71 hedge funds holding positions in Q2, but investors should monitor power deployment and GPU utilization to assess if operating margins recover in H2 2026.