Nvidia Corporation (NASDAQ: NVDA) expanded its stake in CoreWeave (NASDAQ: CRWV) by 94.5% in its most recent SEC filing, bringing its total holding to 47.2 million Class A shares as of March 31, 2026, up from 24.3 million shares reported at the end of Q4 2025. The chipmaker also disclosed a new 7.8 million share position in Coherent Corporation (NYSE: COHR), a manufacturer of materials for semiconductors and optical components.
Nvidia’s relationship with CoreWeave extends back to 2021, when the cloud provider was still a small GPU-focused startup. The relationship has since become strategically significant on both sides: CoreWeave’s infrastructure is built predominantly on Nvidia’s GPU technology, while CoreWeave has emerged as one of the primary distribution channels for Nvidia’s high-demand GPU inventory. The near-doubling of Nvidia’s stake signals a deepening of that relationship rather than a speculative move.
Separately, Swiss Life Asset Management Ltd initiated a new position in CoreWeave during Q4, acquiring 11,646 shares valued at approximately $834,000, according to a 13F filing submitted to the SEC.
The entry reflects a wider pattern of institutional accumulation around CoreWeave since its public debut earlier in 2026. Vanguard Group lifted its CoreWeave position by 275.6% in Q4, bringing its total to nearly 28 million shares worth approximately $1.99 billion. Zurcher Kantonalbank increased its position by over 6,000% in the same quarter.
CoreWeave reported Q4 revenue of $1.57 billion, up 110.4% year on year, though the company posted an earnings per share loss of $0.89, missing the consensus estimate of negative $0.61. The stock opened at $107.30 on Friday and carries a 52-week range of $63.80 to $187.00. The consensus Wall Street rating is Moderate Buy, with an average price target of $131.97.
Citigroup recently raised its target to $158 and maintained a Buy rating. Insider selling has been heavy, with executives including co-founder Brian Venturo and shareholder Magnetar Financial offloading substantial positions in recent weeks.
