** Shares of AI data center firm CoreWeave CRWV.O down 3.7% at $147.39
** Needham downgrades CRWV's rating to "hold" from "buy"
** With CRWV currently trading at 41x Needham's 2026 EBIT estimates, it believes the valuation is full and downgrades stock
** Needham believes CRWV's deal to buy crypto miner Core Scientific CORZ.O is a strategic fit and would unlock additional IT capacity for high-performance computing and AI workloads
** CRWV said on Monday it would buy CORZ in an all-stock deal valued at about $9 billion, or $20.40 per share
** CRWV stock now up ~283% from the $40 price in its March IPO
(Reporting by Juby Babu in Mexico City)
((Juby.Babu@thomsonreuters.com;))
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