Bank of America tweaks CoreWeave stock forecast after earnings

Nvidia-backed CoreWeave (CRWV) banal entered different net play with Wall Street looking for different 4th marred by dense CapEx and losses.

Analysts were looking astatine $2.56 cardinal successful income with an adjusted nonaccomplishment of $1.41 per share.

Instead, CoreWeave delivered different sizeable treble beat, delivering $2.58 cardinal successful revenue, posted a smaller-than-expected loss, portion raising its full-year outlook.

Consequently, arsenic CoreWeave reported its Q2 2026 net aft marketplace hours connected Tuesday, August 11, 2026, the banal experienced a tremendous pop.

According to Investing, the banal surged astir 14% aft hours, with Reuters reporting different 19% connected August 12, having closed astatine $90.32 earlier earnings.

Following the beardown snapback, CoreWeave banal is present up 21% for the period and 50% year-to-date, according to Seeking Alpha data.

CEO Mike Intrator called it "an exceptional 4th for CoreWeave", adding that the institution "outperformed our program crossed the board".

That was capable to unit Wall Street to rethink its presumption successful the AI giant. 

Bank of America did conscionable that aft the print, changing aggregate cardinal forecasts portion keeping 1 large telephone intact.

Bank of America revised CoreWeave forecasts aft the AI unreality company's net TIMOTHY A. CLARY / AFP via Getty Images

Why Bank of America inactive sees large upside successful CoreWeave 

Bank of America came distant from CoreWeave's Q2 results assured successful its maturation trajectory.

More AI:

• Nvidia conscionable made a determination Wall Street wasn't acceptable for

• Microsoft conscionable took sides successful AI argumentation fight

• OpenAI conscionable disclosed thing genuinely alarming

Consequently, the bank's analysts reiterated their 'Buy' standing and a $140 terms target, implying 30% upside aft the stock's post-earnings pop.

Q2 income surged 112% twelvemonth implicit twelvemonth to $2.575 billion, somewhat up of BofA's $2.52 cardinal estimate. Operating borderline reached 5%, compared to the Street's 2.8% expectation, portion the institution posted a nonaccomplishment of $1.03 per share, narrower than BofA's $1.16 nonaccomplishment estimate.

Perhaps the bigger awesome came from capacity. 

CoreWeave added 500 megawatts of progressive powerfulness during Q2, taking progressive capableness from 1 GW to 1.5 GW. Around 300 MW came online successful June alone. As a result, absorption bumped its year-end active-power people to astatine slightest 1.85 GW, from 1.7 GW previously.

Power availability is viewed arsenic a span betwixt CoreWeave's monolithic backlog and existent income generation. For context, remaining show obligations jumped $104.2 billion, up astir $4.8 cardinal sequentially, portion different $25 billion-plus of commitments signed aboriginal successful Q3 weren't included successful the figure.

Given the awesome spot shown, BofA bumped its income forecasts crossed the board.