CoreWeave stock jumps 8% on Indonesia expansion and analyst upgrade

CoreWeave shares rose 8.77% to $93.28 in Tuesday morning trading after the AI cloud infrastructure company announced its expansion into Indonesia and received a positive analyst initiation, boosting optimism about its long-term growth prospects. The move marked CoreWeave's first data center presence in the Asia-Pacific region. The company said it will add three facilities in Indonesia with a total of 360 megawatts of contracted IT capacity, expanding its global infrastructure footprint to meet growing AI demand in Southeast Asia. The stock also benefited from Piper Sandler initiating coverage with an Overweight rating and a $151 price target. CoreWeave currently has a broader Buy consensus on Wall Street, with an average price target of around $140. The company's expansion follows strong quarterly results from major tech firms, and investors are looking ahead to its second-quarter 2026 earnings report scheduled for August 11, where analysts expect revenue of approximately $2.56 billion, up from $1.21 billion a year earlier.