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CoreWeave, Inc. (CRWV) stock is trading lower by about 4% on Wednesday as investors retreat from growth-focused technology stocks amid broader market weakness and rising Treasury yields ahead of the September FOMC minutes.
The Nasdaq is down 0.32%, while the S&P 500 has slipped 0.22%.
Separately, CoreWeave said Wednesday it is entering India through a collaboration with AdaniConneX, expanding its AI Cloud platform with 240 megawatts of planned data center capacity in Navi Mumbai.
The project will span three 80 MW buildings at AdaniConneX's Taloja campus. CoreWeave plans to deploy NVIDIA's Vera Rubin Platform to support AI training, inference, reasoning and agentic workloads.
The first phase is expected to become available in mid-2028, with additional capacity coming online later. CoreWeave will be the sole tenant and could add another 240 MW at the site.
The company also plans to establish an office in India and hire locally.
The expansion supports India's growing AI and data center ecosystem, including the IndiaAI Mission. It also extends CoreWeave's global footprint following its recent entry into Indonesia.
As of its Aug. 11 earnings call, CoreWeave had about 4.2 gigawatts of contracted power globally.
CoreWeave remains in a mixed technical setup.
The stock is trading 4.4% below its 100-day simple moving average and 5.2% below its 200-day SMA. However, it remains 1.7% above its 20-day SMA.
That suggests some short-term stabilization, although the longer-term trend remains under pressure. The 20-day SMA also remains below the 50-day SMA.
CoreWeave's relative strength index stands at 52.07. The neutral reading suggests neither buyers nor sellers currently have firm control.
The stock also remains under the shadow of a death cross formed in July, when its 50-day SMA fell below the 200-day SMA.
Key resistance sits near $91, close to the 100-day SMA of $91.84. Support is near $78.50, around a previous demand zone.
CoreWeave's next earnings report is estimated for Nov. 9.
Analysts expect a loss of $1.07 per share, compared with a loss of 8 cents per share a year earlier. Revenue is expected to rise to $3.43 billion from $1.36 billion.
The stock carries a Buy consensus rating with an average price forecast of $139.37.
Recent analyst actions include Freedom Capital Markets maintaining a Buy rating and a $151 price forecast on Oct. 5. Cantor Fitzgerald maintained an Overweight rating and a $176 price forecast on Oct. 2. Rosenblatt maintained a Buy rating and a $250 price forecast on Oct. 1.
CoreWeave has a MarketDash Edge Momentum score of 32.14, placing the stock in neutral territory.
The reading fits the current technical picture. Shares are showing signs of short-term stabilization but have yet to establish a stronger long-term uptrend.
CoreWeave is held by several exchange-traded funds.
Because CoreWeave carries meaningful weight in some of these ETFs, large fund inflows or outflows could add buying or selling pressure to the stock.
CRWV Stock Price Activity: CoreWeave shares were down 4% at $88.05 at the time of publication Wednesday, according to market data.
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