CoreWeave Stock Falls 12% as Bernstein Warns Meta's Cloud Plans Could Spark Head-On Competition

According to Bernstein analyst Madison Rezaei, CoreWeave faces intensifying competition as Meta plans to monetize its massive AI infrastructure through an externally facing cloud computing business, potentially competing with AWS, Azure, and GCP. Bernstein holds an 'Underperform' rating on CRWV with a $67 price target, citing sustainability concerns for CoreWeave's business model. CRWV shares fell over 12% on Wednesday (June 30) following the report, while Meta's existing agreement with CoreWeave extends through December 2032 with a value of approximately $21 billion.
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