Investing.com -- Evercore ISI started coverage of CoreWeave with an Outperform rating and $175 price target, saying the fast-growing cloud infrastructure company is emerging as a key provider of computing power for artificial intelligence applications. Evercore said CoreWeave has strong forward revenue visibility, with about 98% of its sales coming from multi-year “take-or-pay” contracts, typically priced per GPU-hour. While customer concentration remains high, Microsoft and OpenAI accounted for nearly 80% of second-quarter revenue, Evercore expects the client mix to broaden as new enterprise wins ramp. Evercore values the company at 10 to 11 times estimated 2027 EBITDA, a discount to larger cloud and data center peers. Related articlesCoreWeave initiated at Outperform by Evercore on AI infrastructure demand8 Warren Buffett-Backed Stocks to Navigate September VolatilityLoading Up HEAVY on These 3 Stocks by End of 2025 (+ 1 New ETF)