Motley Fool analysts predict: NVIDIA-backed CoreWeave could be the next soaring stock.
Motley Fool analyst Adria Cimino predicts that CoreWeave, a cloud company in NVIDIA's portfolio, could be the next stock to surge. NVIDIA's recent acquisition offer for AI open-source platform Hugging Face demonstrates its deep understanding of the AI ecosystem. As a close partner of NVIDIA, CoreWeave's business is closely tied to the demand for NVIDIA GPUs. CoreWeave's latest quarterly revenue soared 112% to $260 million, with a backlog of $10.4 billion and over $25 billion in new customer commitments secured at the beginning of the third quarter. Although CoreWeave's losses have widened and interest expenses have increased due to infrastructure development, analysts believe that as a key NVIDIA partner, it is well-positioned in the high-growth AI sector.
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