CoreWeave shares fell on news that Meta Platforms is building a cloud business to resell AI computing power, but analyst Rosenblatt and others view the move as no threat to CoreWeave's core business. Rosenblatt reiterated a Buy rating with a $250 price target, citing unchanged hyperscale demand for GPU compute and the belief that Meta cannot resell CoreWeave capacity to third parties through 2032. The company also launched CoreWeave ARIA, an AI research agent tool, on June 29.
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On July 2, 2026, analyst Rosenblatt called the prior day's CoreWeave selloff a buying opportunity after reports that Meta Platforms is planning a cloud business to sell AI computing power. Rosenblatt reiterated a Buy rating and $250 price target. Separately, CoreWeave announced the launch of CoreWeave ARIA, an AI research agent built into Weights & Biases, on June 29.
Why it matters
Rosenblatt's channel checks show no change in hyperscale demand for GPU compute procurement, with GPU shortages remaining "the norm right now across the industry." The firm also does not believe Meta has the right to resell to third parties any capacity it has leased from CoreWeave through 2032. Jefferies argued Meta is following Amazon's AWS playbook and called a cloud business "strategic" to Meta's longer-term AI ambitions, while saying CoreWeave's value remains intact because it is "one of the best" at hosting AI compute.
What to watch
CoreWeave ARIA helps generate reports, create sweep configurations from natural language, and automate manual setup tasks. Rosenblatt's $250 price target reflects confidence in the stock despite the Meta announcement.
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