CoreWeave, Inc. (NASDAQ: CRWV) surged 10.94% intraday on Thursday, outperforming the broader tech sector as the Nasdaq-100 and S&P 500 also posted gains.
The rally followed CEO Michael Intrator's strong rebuttal of allegations regarding the company's financing strategy with Nvidia. Intrator dismissed claims of circular financing as "ridiculous," highlighting CoreWeave's robust capital structure and $42 billion valuation. He emphasized the company's use of special purpose vehicles to manage debt, ensuring revenue from contracts with clients like Microsoft and Meta Platforms is ring-fenced for operational stability.
The stock's rise was further supported by bullish technical indicators, including a neutral RSI and a MACD above its signal line, signaling positive momentum. Analysts maintain a Buy rating with an average price target of $125.52, reflecting optimism about CoreWeave's growth prospects.
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