Cantor Lifts CoreWeave Target to $156, Citing Massive Deals with Jane Street and Meta

Investment bank Cantor Fitzgerald has raised its price target for CoreWeave to $156, driven by a series of massive contracts, most notably with Jane Street and Meta.

These deals are particularly significant because they combine huge demand commitments with direct equity investments and high-quality financing, aligning the company's 'demand-funding-supply' cycle.

While the outlook is positive, with potential for the order backlog to approach $100 billion, risks such as high customer concentration and the financial burden of large-scale investments remain.

Cantor Fitzgerald recently raised its price target for AI cloud provider CoreWeave to $156, a move that reflects more than just a single piece of good news.

This re-evaluation was triggered by a flurry of significant announcements in April 2026. The main catalyst was a deal with financial firm Jane Street, which committed to purchasing $6 billion in AI cloud capacity and, crucially, also made a $1 billion equity investment in CoreWeave. This dual commitment of being both a major customer and a direct investor signals immense confidence in CoreWeave's future.

This deal didn't happen in a vacuum, though. It followed on the heels of two other massive agreements: a $21 billion contract extension with Meta and a multi-year deal with AI leader Anthropic. The sheer scale and rapid succession of these contracts have reshaped how investors view CoreWeave's demand pipeline, transforming it from promising to overwhelmingly strong.

However, massive demand is only one part of the equation; fulfilling it requires immense capital and cutting-edge technology. This is where the story gets even more compelling. First, CoreWeave recently secured an $8.5 billion investment-grade loan backed by its GPU assets. This is a game-changer, as it allows the company to borrow money at a lower cost to build out its data centers faster. Second, a strategic partnership with NVIDIA, which includes a $2 billion investment, ensures CoreWeave gets early access to next-generation chips like the 'Vera Rubin' platform. This means they can offer more powerful and cost-effective services to clients like Meta and Jane Street.

In essence, what we've witnessed is the perfect alignment of a three-sided puzzle: demand, funding, and supply. The demand is proven by gigantic contracts, the funding is secured through high-quality loans and investments, and the supply of advanced technology is guaranteed by the NVIDIA partnership. This powerful combination is why Cantor Fitzgerald believes the company's growth story has fundamentally improved.

Of course, no investment is without risk. CoreWeave still relies heavily on a few large customers, with Microsoft accounting for 67% of its 2025 revenue. Additionally, the company is spending heavily on expansion ($30-35 billion in 2026), and its borrowing costs, while improving, are still notable. These factors could impact profitability and create volatility down the road.

[Glossary]

RPO (Remaining Performance Obligations): The total value of contracted future revenue that has not yet been delivered or recognized. It's a key indicator of future sales.
CapEx (Capital Expenditures): Funds used by a company to acquire, upgrade, and maintain physical assets like property, buildings, or equipment.
DDTL (Delayed-Draw Term Loan): A type of loan that allows the borrower to withdraw funds in stages over a period of time, rather than taking the entire amount at once.