CoreWeave Could Reach $200 by 2027 If Backlog Converts and Margins Hold

CoreWeave Inc. announced it will establish its first data centers in India through a partnership with AdaniConneX Pvt., a joint venture between Adani Group and EdgeConneX. The AI cloud-computing provider will utilize 240 megawatts of capacity at AdaniConneX's Taloja campus in Navi Mumbai, with an option to expand to 480 megawatts, and plans to open an office in India. The total investment is projected to reach multiple billions of dollars throughout the project's duration, with the first data centers scheduled to begin operations in mid-2028. CoreWeave will install Nvidia Corp. Vera Rubin chips at the facilities for tasks including training and operating models, managing reasoning functions, and supporting AI agents. The move follows CoreWeave's initial Asian entry in August with projects in Indonesia, and comes after CEO Mike Intrator said last month the company is largely sold out of capacity; CoreWeave reported approximately 4.2 gigawatts of contracted power in August.

CoreWeave announced its entry into India through a collaboration with AdaniConneX that will add 240 megawatts of data center capacity in Navi Mumbai. The new campus will span three 80 MW buildings at AdaniConneX's Taloja campus, with CoreWeave as the sole tenant across all three buildings and the opportunity to double capacity by expanding by up to 240 MW at the site. CoreWeave plans to deploy the NVIDIA Vera Rubin Platform on its AI cloud platform there and intends to invest in India by establishing an office and hiring locally. The first phase of the project is expected to be available in mid-2028, with additional capacity coming online in phases. The expansion follows CoreWeave's recent entry into Indonesia and, as of its earnings call on August 11, 2026, the company had approximately 4.2 gigawatts of contracted power.

Reflection AI, a New York City startup valued at $25 billion, is rumored to be on the verge of releasing its first open-source AI model, according to a report from Axios. Founded about 2.5 years ago by two former Google DeepMind researchers who worked on the foundations of Google Gemini, the company came out of stealth at a $545 million valuation and has since raised $2 billion from Nvidia, which led its next round. Reflection AI has committed upwards of $7 billion on compute before its first model ships, including roughly $150 million per month paid to Elon Musk's SpaceX AI for compute access, and it does not own any of its own chips. The company's pitch centers on an "AI factory" model in which enterprises pay for model weights, download them, and run them privately on their own infrastructure so proprietary data never reaches a centralized lab. The launch would mark a rare Western attempt to compete in open-source AI, where Chinese models now account for 58 to 80 percent of usage among US AI startups, and where Reflection AI's $7.4 billion compute spend amounts to only about 1.4 percent of the $0.5 trillion Anthropic plans to spend on compute over the next 5 to 10 years.

Cerebras Systems has secured a deal with Gimlet Labs, which agreed to use its wafer-scale chips inside a new disaggregated inference cloud targeting ultrafast agentic and real-time AI workloads for paying customers. The partnership lands after a volatile stretch for Cerebras, during which conflicting headlines around its OpenAI relationship swung sentiment and short-term trading. Even with recent rebounds on Altman's public backing, the stock's share price return is still down 15.7% over 30 days and 43.1% year to date. Cerebras last closed at $177.10, while the most followed narrative values the stock at $415.54, framing a large gap between trading price and perceived long-term potential. The story could still unravel quickly if OpenAI pulls back on spending or if the mid November share unlock floods the market with selling.

Penguin Solutions said it expects fiscal 2027 net sales of approximately $2.43 billion at the midpoint, roughly 40% growth plus or minus 10 percentage points, with diluted earnings per share of approximately $4.45 plus or minus $0.70. The outlook, raised from a preliminary view of about 30% growth given last quarter, was supported by record backlog, bookings growth, continued integrated memory strength and accelerating demand for its AI infrastructure business, Interim CFO Aaron Johnson said on the company's Q4 fiscal 2026 earnings call. For the fourth quarter, net sales were $567 million, up 68% year over year, and EPS was $1, up 133%, with gross margin of 28.8% and operating margin of 15.8%. Integrated Memory posted record quarterly net sales of $341 million, up 158% year over year and 24% sequentially, while Advanced Computing net sales were $154 million; for the full year, net sales were $1.73 billion, up 26%, and diluted EPS rose 51% to $2.87. CEO Kash Shaikh said the company added 6 new AI infrastructure customers in the quarter, including 4 neoclouds, and was selected to deploy and operate a 36,000 GPU AI factory in Norway, and he noted that Stephen Cumming has joined as Chief Financial Officer. The company completed a significantly oversubscribed $750 million 0% convertible note offering due in 2031 and ended the quarter with cash and cash equivalents of $647 million.