So, here's a simple story: a company that provides cloud computing specifically for artificial intelligence work just landed a major new customer. That company is CoreWeave, Inc. (CRWV), and the customer is Perplexity, the AI-powered search engine. The market liked the news, sending CoreWeave shares up more than 5% in Wednesday's premarket trading to around $77.90.

The deal itself is pretty straightforward but significant. Perplexity has entered into a multi-year agreement to run its AI "inference" workloads—that's the part where a trained AI model actually answers your questions—on CoreWeave's cloud platform. They're also going to collaborate on testing and launching new AI services. For Perplexity, this is part of what it calls a "multi-cloud strategy," meaning it doesn't want to rely on just one provider. For CoreWeave, it's another validation that its specialized, high-performance infrastructure is what cutting-edge AI companies are looking for.

A key technical detail here is the hardware. CoreWeave says it will support Perplexity's next-generation workloads using dedicated clusters powered by Nvidia Corporation's (NVDA) new GB200 NVL72 systems. In the world of AI infrastructure, having access to the latest and greatest Nvidia chips is a big selling point, and CoreWeave is making that a centerpiece of this partnership.

What the Charts Are Saying

Let's talk about the stock's technical picture. The price action is telling a generally positive story in the near term. The stock is trading about 3.2% above its 20-day moving average and 5.5% above its 100-day moving average. That typically suggests a bullish trend is in place. Over the past year, the shares have run up significantly and are sitting much closer to their 52-week highs than their lows.

The momentum indicators, however, are giving a more mixed message. The Relative Strength Index (RSI) is at 44.45, which is smack in the middle of neutral territory—the stock isn't overbought or oversold. But the Moving Average Convergence Divergence (MACD) is at 0.15, which is below its signal line (0.22). That's often read as a bearish signal. So you have neutral momentum from one indicator and bearish pressure from another. Traders are watching key levels, with resistance seen around $80.00 and support near $70.00.

The Analyst and Earnings Outlook

Shifting to the fundamentals, CoreWeave's next scheduled earnings report isn't until May 13, 2026. The estimates for that period are interesting: analysts expect earnings per share to be just 1 cent, down sharply from 60 cents previously. But they also expect revenue to nearly double to $1.96 billion, up from $981.63 million. That's a classic growth-company trade-off: massive revenue expansion while profitability takes a back seat for now. A forward price-to-earnings ratio isn't available, which isn't surprising given the tiny EPS estimate.

The analyst community still largely likes the story. The consensus rating is a Buy, with an average price target of $127.04. But the recent actions show some divergence in opinion. On the very bullish end, HC Wainwright & Co. maintained its Buy rating and a $180 price target on March 2. On the more cautious side, both Macquarie and Mizuho took action on February 27. Macquarie reiterated a Neutral rating but lowered its price target to $90. Mizuho also stayed at Neutral and cut its target to $95. So you have a wide range of targets, from $90 to $180, reflecting different views on how much of the AI infrastructure boom is already priced into the stock.

In the end, today's move is about a contract win. CoreWeave proved it can attract another high-profile AI client to its cloud. For investors, the question is whether deals like this one with Perplexity will be enough to keep the growth story—and the stock's momentum—alive as it heads toward that 2026 financial update.