CoreWeave stock could more than double in value in the next 12 months as demand for artificial intelligence infrastructure persists.

Nvidia ( NVDA -2.78% ) has about $4.3 billion invested in six companies, but the chipmaker has over 90% of its portfolio in CoreWeave ( CRWV 1.92% ) , a major vote of confidence for the up-and-coming cloud services provider.

CoreWeave shares have already advanced 125% since its initial public offering (IPO) in March, but Argus Research analyst Jim Kelleher recently set the company with a 12-month target price of $200 per share. That implies 122% upside from its current share price of $90.

Here's what investors should know about CoreWeave.

Bulls say CoreWeave is a leading provider of cloud AI services

CoreWeave provides cloud infrastructure

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