CoreWeave CRWV shares climbed about 6% in morning trading as investors positioned ahead of the company’s first-quarter 2026 results, supported by recent analyst target increases and ongoing demand for AI infrastructure.

CoreWeave has drawn renewed attention after Bank of America and Jefferies raised their price targets while maintaining positive ratings. Analysts pointed to recently disclosed agreements with major clients, including Meta and other AI-focused firms, as contributors to a growing backlog of contracted revenue.

CoreWeave said its pipeline of commitments exceeds $95 billion, with notable deals signed in April, including multi-billion-dollar agreements tied to data center capacity. The company has indicated that much of its 2026 capacity is already allocated, prompting further expansion plans to meet demand.

CoreWeave is expected to report first-quarter revenue near $2 billion, roughly doubling from a year earlier, based on consensus estimates and company guidance. Market participants said the combination of analyst upgrades, strong backlog visibility, and broader AI spending trends is driving pre-earnings momentum.