So, CoreWeave Inc. (CRWV) is about to take its quarterly report card public. The cloud infrastructure specialist reports fourth-quarter financial results after the market closes on Thursday, and this one might get a little extra scrutiny. Why? Well, tech stocks have been feeling some heat lately, and everyone wants to see if this AI infrastructure darling can keep its winning streak alive.

Let's talk about what the smart money is expecting, what one very vocal hedge fund manager is saying, and what you should actually be watching for when the numbers drop.

The Numbers on the Board

First, the consensus. According to market data, analysts are looking for CoreWeave to post fourth-quarter revenue of $1.53 billion. On the bottom line, they're expecting a loss of 65 cents per share.

Here's the thing about CoreWeave: it's still a relative newcomer to the public markets, having gone public in March 2025. It's only reported earnings three times. But in that short history, it's developed a habit of exceeding expectations. The company has beaten analyst estimates for earnings per share in the last two quarters straight. More impressively, it has beaten revenue estimates in all three of its quarters as a public company. That's a perfect record. So, the bar is set for another double beat, and missing now would be... noticeable.

The Bull Case from a Big Name

Enter Brad Gerstner. He's the CEO of Altimeter Capital, and he's been making the case for CoreWeave lately. In a recent interview, Gerstner argued that we might be in the early innings of a new cycle for software and cloud companies, fueled by the relentless growth of AI and data center spending. And on his list of highlighted stocks? CoreWeave.

Gerstner, who also has a position in NVIDIA Corp (NVDA), pointed out that CoreWeave is positioned to benefit directly from the surge in data center spending and from Nvidia's next-generation Rubin platform. He made a clear distinction, stressing that Altimeter isn't just piling into any "neocloud" stock.

"We think CoreWeave stands alone," he said, highlighting the company's performance, execution, and that all-important strategic relationship with Nvidia. "It makes a really interesting opportunity."

His take is that the stock "has fallen out of favor" recently, and that even if CoreWeave merely meets expectations, there's room for upside from here. It's a vote of confidence that adds some extra narrative weight to this earnings report.

Analysts, meanwhile, have been busy updating their scorecards. Here's a snapshot of recent moves:

• Macquarie: Maintained a Neutral rating, with a price target of $115.
• Mizuho: Maintained a Neutral rating, but raised its price target from $92 to $100.
• Deutsche Bank: Upgraded the stock from Hold to Buy and raised its price target from $100 to $140.
• DA Davidson: Upgraded from Neutral to Buy, raising its price target from $68 to $110.
• Needham: Reiterated a Hold rating, with no price target specified.

So, you've got a mix of upgrades and cautious optimism, with price targets suggesting a decent runway if the story holds.

What to Actually Watch For

Beyond the top and bottom lines, a few key items will be in focus.

First, the Nvidia partnership. It's central to the CoreWeave story. The companies recently expanded their deal, with Nvidia making an additional $2 billion investment. That cash is supposed to help fund CoreWeave's aggressive buildout of AI infrastructure. Any commentary on how that partnership is progressing will be crucial.

Second, the backlog. Last quarter, CoreWeave reported that its revenue backlog had nearly doubled to a staggering $55 billion. That number is a forward-looking indicator of demand, and investors will be keen to see if it grew again. It's a tangible measure of how much business companies are committing to CoreWeave for future AI projects.

Third, there's a bit of noise in the system that management might need to address. Recently, reports surfaced that AI financing partner Blue Owl Capital (OBDC) had failed to secure financing for a massive data center project in Pennsylvania—a site CoreWeave helped design to be one of the largest in the U.S. That news put some pressure on CoreWeave's stock. Both companies pushed back, saying the financing reports were inaccurate.

On the call, don't be surprised if CoreWeave's executives try to calm any nerves by detailing the company's own financing strength and its partnerships for getting these critical data centers built. In a sector where execution is everything, investors want reassurance that the growth engine isn't hitting any snags.

Where the Stock Stands

Despite the recent sector wobbles, CoreWeave shares have had a strong run. The stock was up slightly on Wednesday, trading around $99.87. It's up 25.3% year-to-date in 2026. Zoom out a bit, and it's up over 140% in the last 52 weeks, with a 52-week range between $33.52 and $187.

So, the stage is set. A company with a flawless beat record, a prominent bull in its corner, a massive backlog, and a few questions about the road ahead. Thursday's report will show whether CoreWeave's story is still on track or if it's time for a plot twist.