CoreWeave Inc (NASDAQ:CRWV) shares are in the spotlight Tuesday morning following a major announcement from NVIDIA Corp (NASDAQ:NVDA) and OpenAI.

What To Know: Nvidia has pledged to invest up to $100 billion to enhance OpenAI’s AI infrastructure, a move that is expected to broadly benefit the AI industry.

As a specialized cloud provider with a strong focus on GPU-accelerated workloads and a close relationship with Nvidia, CoreWeave is well-positioned to capitalize on this increased investment in AI infrastructure. Additionally, roughly half of the company’s backlog is tied to new contracts with OpenAI.

Wall Street analysts are also taking a bullish stance on CoreWeave Tuesday. Wells Fargo upgraded the stock to Overweight from Equal-Weight, raising its price target to $170 from $105. Similarly, Melius Research upgraded the stock to Buy from Hold, with a new price target of $165, up from $128.

CRWV Price Action: CoreWeave shares were down 0.26% at $132.88 Tuesday morning, according to Benzinga Pro. Over the past month, CRWV has gained about 42% versus a 3.6% rise in the S&P 500 and is up roughly 242% year-to-date compared to the index’s 13.2% gain.

The stock is meanwhile above its 50-day moving average of $111.99 and its 100-day moving average of $116.25, indicating a bullish trend. Key support levels can be identified around the 200-day moving average at $103.23, while resistance appears to be near the recent high of $136.00.

Read Also: IonQ Stock Is Trading Higher Today: What’s Happening?

How To Buy CRWV Stock

Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.

For example, in CoreWeave’s case, it is in the Information Technology sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.

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