CoreWeave After The Midterms: Texas Moratorium Meets Debt

CoreWeave is rated Buy with a fair value of about $68, as a Texas data center moratorium would mainly delay revenue on contracts already signed. CRWV's $132.5 billion backlog and roughly $11 million of annual revenue per megawatt provide resilience, with the Denton campus largely insulated from new permit freezes. A one-year delay on 400 megawatts in Texas would cost about $1.4 billion, and the stock already won back the post-election selloff after third-quarter results.