CoreWeave shares rise 3% after Rescale partnership and Truist target hike

CoreWeave shares rose 3.26% to $89.06 on Tuesday after Rescale selected its platform to expand cloud access for artificial intelligence and simulation workloads, while Truist Securities raised its price target to $165 from $155 and maintained a Buy rating. Rescale customers will use CoreWeave cloud services and its Kubernetes Service for generative AI, high-performance computing, distributed simulations and AI models across aerospace, automotive, energy, life sciences and manufacturing. The broader market also advanced, with the Nasdaq up 0.42%, the S&P 500 up 0.14%, the Russell 2000 up 0.32% and the Dow up 0.10%, although a near-0.8 advance-decline ratio pointed to selective strength. CoreWeave remains below its 100-day and 200-day moving averages, but its 20-day average has moved above the 50-day average. Analysts have a Buy consensus and an average price target of $144.11, while resistance is near $94.50 and support around $87. The stock remains exposed to GPU costs, capital-spending concerns and ETF-related flows.

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