CoreWeave can rally on updates to OpenAI, Perplexity deals, Wells Fargo says

CoreWeave is likely to gain ground when it updates investors on deals worth tens of billions of dollars that it struck this year, according to Wells Fargo. The investment bank rates CoreWeave , which rents out computing power, most notably Nvidia GPUs, overweight and raised its 12-month price target to $135 from $125, implying 28% upside from Tuesday's close. The Livingston, New Jersey-based company is estimated to report first-quarter results on May 7. …