Speaker · Updated
Tyler Radke: latest market views
Citi
Summary
Tyler Radke is co-head of U.S. software equity research at Citi Research, covering enterprise software and AI-infrastructure names such as Oracle, Microsoft and CoreWeave.
Chorus has 5 views from Tyler Radke across 2 episodes on CNBC Power Lunch and CNBC Closing Bell since October 19, 2026. Their latest calls: bullish on CoreWeave.
Where they stand
Their latest bullish or bearish call on each company.
- CoreWeaveBullish ·
What they talk about most
The latest views
Newest first. Every quote is checked against the episode's transcript.
CoreWeaveBullish
CoreWeave's execution is strong and earnings power should show after 2027, with a $128 target.
Radke rates CoreWeave a buy with a $128 target, more than double the current price. He cites capacity coming online faster than planned and improving pricing margins. He says CoreWeave has moved past needing unsecured debt, because customer prepayments let it access cheaper delayed-draw term loan financing for its capacity. He expects cash flow to grow strongly next year, helping fund obligations, with the earnings trajectory improving after 2028, which is when he thinks investors will gain more confidence.
“I think it's gonna be consistent execution. ... Obviously, they're standing at capacity faster than planned. Pricing margins are all coming better.”at 4:35
CNBC Power Lunch: CoreWeave AI Rally, NVIDIA Scrutiny and Energy Shipping Risks ·
CoreWeaveBullish
CoreWeave is well placed against political and permitting risk because its power and permits are already secured.
Radke concedes political risks always need monitoring because data center sites are physical, capital intensive and need the right approvals. He argues CoreWeave is still among the best positioned. It has stood up more capacity than many other neoclouds combined. Its sites in Texas and other states with more political focus already have power rights approved, permits in hand and regulatory conditions settled. If data center growth slowed sharply, supply would stay tight and push up prices on CoreWeave's existing capacity.
“they already have all the power rights approved. They have the permits. They have all the regulatory conditions ... settled.”at 6:12
CNBC Power Lunch: CoreWeave AI Rally, NVIDIA Scrutiny and Energy Shipping Risks ·
CoreWeaveBullish
CoreWeave's selloff is a financing issue; demand is strong and higher financing costs will pass to customers.
Radke argues the CoreWeave selloff is a financing problem rather than a demand problem. The bond market is driving the narrative: the 10-year yield has risen about 30% off its March lows, which hurts anything below investment grade. On demand, GPU rental spot prices are at record highs and AI labs are locking in contracts at the highest prices seen, with margins rising. Higher cost of capital is part of the business model and will be built into contracts when neoclouds renegotiate with customers, so he thinks the issue gets figured out. He acknowledges near-term volatility from financing uncertainty.
“Look, I think this is simply a financing issue. Right? I mean, it's not helpful that the ten year rates have gone up, you know, 30% off the lows in March.”at 4:23
Rising Treasury yields, not AI demand, are driving the AI financing narrative and hitting non-investment-grade borrowers.
Radke points to the 10-year yield being roughly 30% above its March lows. He says that move has ripple effects on anything that is not investment grade, which includes the financing of neocloud AI companies. In his view the bond market is in control of the narrative right now, which is tough to fight ahead of the Fed meeting and midterm elections. He treats this as a financing issue rather than a demand issue.
“it's not helpful that the ten year rates have gone up, you know, 30% off the lows in March. Right? That has ripple effects to anything that's not investment grade. So I think the bond market is really in control of this narrative right now.”at 4:23
AI infrastructure & data centers
Power and permitting bottlenecks raise the scarcity value of existing neocloud capacity; permitting should improve after midterms.
Radke argues that harder-to-build capacity from power and regulatory constraints makes the limited supply that exists more valuable, so the bottlenecks help neocloud sellers. He notes that sites must be sited and permitted properly, since building through residential areas invites problems. Hyperscalers need the capacity and some, like Microsoft, build many data centers in house. He expects permitting to improve once the midterms pass, since data center siting is politically sensitive right now.
“Interestingly, with these bottlenecks, whether it's power or regulatory that you talked about, this actually increases the scarcity value of the things that the neo clouds are selling.”at 6:20
Shows
- CNBC Power Lunch · 1 episode
- CNBC Closing Bell · 1 episode
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Chorus reports what speakers said. It isn't investment advice.