Nvidia’s (NVDA) influence across the AI industry is spreading fast. Now, its backed tech players, CoreWeave and Nebius, are getting Wall Street’s attention.
CoreWeave (CRWV) and Nebius (NBIS) are AI cloud infrastructure providers that supply GPU-powered computing capacity for AI workloads. They sit between Nvidia and tech hyperscalers, turning chips into usable AI compute.
Nvidia’s backing is often seen as a vote of confidence in a company’s technology and growth potential.
As of Q4 2025, Nvidia’s largest disclosed position is Intel, with about 214.8 million shares valued near $7.9 billion at Q4’s end, representing roughly 50% of the portfolio. That is followed by CoreWeave, with about 47.2 million shares worth roughly $4.4 billion, or about 27.9%, according to WhaleWisdom’s data based on 13F filings.
Nvidia holds a smaller position in Nebius, valued at about $100 million, accounting for about 0.63% as of Q4 2025. Other notable positions include Synopsys at about $2.3 billion, and Nokia at roughly $1.1 billion.
Bank of America just raised its price targets on CoreWeave and Nebius. Here’s what the firm sees.
CoreWeave lands deals with Meta and Anthropic
Bank of America raised its price target on CoreWeave to $120 from $100 at a buy rating, citing improved growth visibility after a wave of new contracts, according to an April 13 research report sent to TheStreet.
Last week, CoreWeave announced a major deal with Meta Platforms (META), which signed an additional $21 billion agreement extending through 2032. That brings the total contract value to roughly $35 billion.
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CoreWeave also just announced a multi-year agreement with Anthropic to support workloads for Claude.
“AI is no longer just about infrastructure, it’s about the platforms that turn models into real-world impact,” CoreWeave CEO Michael Intrator said in an April 10 press release. “We’re excited to work with Anthropic at the center of where models are put to work and performance in production shows up.”
Though the financial terms of the Anthropic deal were not disclosed, Bank of America said this “suggests meaningful deal size with expansion potential.”
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“This agreement enhances CoreWeave’s customer diversification, adding Anthropic alongside existing customers such as OpenAI, Google, and Microsoft,” Bank of America analyst Tal Liani wrote.
Bank of America said those deals are driving a step up in growth expectations.
“We are increasing our FY27/FY28 CoreWeave revenue growth estimates by 800bps/300bps to 94%/50% year-over-year, reflecting expanded commitments from Meta and a new strategic agreement with Anthropic,” the analyst wrote.
Bank of America also lifted its valuation multiple, noting that CoreWeave’s growth profile now sits above cloud data center peers.
CoreWeave’s growth is heavily dependent on financial leverage, including debt and equity financing. Bank of America said its financing risk “has moderated” following the announcement of its $8.5 billion delayed draw term loan facility.
“While increased leverage introduces incremental financial risk, the debt is tied to contracted capacity rather than speculative expansion. As a result, we believe the higher leverage remains manageable over time,” the analyst wrote.
CoreWeave stock closed at $110.27 on Monday, up 8.1% for the day. Year to date, the stock surged 54%, far outpacing the S&P 500 Index.
Bank of America raised Nebius stock target
Bank of America also raised its price target on Nebius to $175 from $150, reiterating a buy rating.
Like CoreWeave, Netherlands-based Nebius benefits from backing by Nvidia and partnering with tech hyperscalers like Meta.
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In March, Nebius landed a major $27 billion deal with Meta, under which Nebius will provide $12 billion in dedicated capacity and up to $15 billion in additional compute over five years.
“The scale and structure of recent hyperscaler contracts, combined with ongoing capacity expansion at new data centers in Finland and Alabama, further validate its position as a core supplier within the global AI infrastructure ecosystem,” Bank of America wrote.
Nebius stock closed at $154.56 on Monday and has soared nearly 85% year to date.
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