CoreWeave Inc ( CRWV ) shares are trading lower as Nvidia ( NVDA ) Nvidia Corp ( NVDA ) shares retreat from session highs.

CRWV is having a challenging session. See the full breakdown here.

What To Know: CoreWeave ( CRWV ) shares popped in direct response to Nvidia's ( NVDA ) earnings. The two companies are closely linked — Nvidia ( NVDA ) is both a major investor and CoreWeave's ( CRWV ) chip supplier.

Nvidia ( NVDA ) exceeded the Wall Street’s consensus estimate of $54.88 billion with third-quarter revenue of $57.0 billion, up 62% year over year. The company exceeded the Street estimate of $1.25 with earnings per share of $1.30.

Despite the earlier rally, markets sold off as investors assess a strong September jobs report, which could drive uncertainty over a December rate cut.

CoreWeave ( CRWV ) is the key cloud for AI, providing a platform of teams, tools and technology that empowers innovators to confidently develop and scale AI. As Nvidia’s top cloud partner, the company’s business strategy is directly dependent on GPU availability.

CRWV Analyst Ratings

Recent analyst perspectives on CRWV present a mixed outlook. Goldman Sachs has maintained a Neutral stance on the company, reducing the target to $105 from $120 on Nov. 17. This follows a more optimistic outlook from Compass Point, which initiated coverage with a Buy rating and a $150 target on Nov. 13.

Loop Capital and Barclays maintained their Buy and Equal-Weight ratings respectively on Nov. 12, with both setting a target of $120, a decrease from prior targets. On the same day, Wells Fargo also maintained its Overweight rating, albeit with a reduced target of $150, down from $170 previously.

CRWV Price Action: CoreWeave ( CRWV ) shares were down 3.1% at $72.60 at the time of publication on Thursday, according to Benzinga Pro.

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