CoreWeave Stock (CRWV) Jumps after New Partnership with Perplexity

2026-03-04 19:02:28

Artificial-intelligence search company Perplexity has entered into a partnership with cloud computing firm CoreWeave (CRWV) to use its data centers for new AI services. As a result, shares of CoreWeave surged at the time of writing. According to CoreWeave CEO Mike Intrator, the agreement is an important step toward diversifying the company’s customer base. In an interview with Axios, Intrator explained that the deal shows how more AI companies are choosing CoreWeave’s platform.

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Importantly, he noted that customers are not just looking for raw computing power, but rather a complete AI cloud platform that’s designed specifically for AI workloads. Similarly, Max Hjelm, CoreWeave’s senior vice president of revenue, emphasized that AI applications in real-world environments require much more than infrastructure. Instead, they need to be reliable and include end-to-end tools built for AI systems.

Meanwhile, Perplexity believes that the partnership will help it expand its infrastructure and scale its AI services more effectively. Chief business officer Dmitry Shevelenko said that the company was impressed by CoreWeave’s technical expertise and its partner-focused approach that helps AI-native businesses grow faster. As part of the agreement, Perplexity will use Nvidia (NVDA) GB200 NVL72-powered clusters to run AI inference workloads. At the same time, CoreWeave will deploy Perplexity Enterprise Max across its organization so employees can search both the web and internal documents more efficiently.

Is CRWV Stock a Good Buy?

Turning to Wall Street, analysts have a Moderate Buy consensus rating on CRWV stock based on 11 Buys, eight Holds, and zero Sells assigned in the past three months, as indicated by the graphic below. Furthermore, the average CRWV price target of $118.29 per share implies 48.5% upside potential.

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