CoreWeave, Inc. (CRWV) saw its stock surge 12.53% during intraday trading on Monday, marking a significant uptick amid mixed broader market performance.
The rally followed CEO Michael Intrator's forceful dismissal of allegations regarding "circular financing" with NVIDIA Corp (NVDA). Intrator labeled the claims as "ridiculous" and mathematically unsound, emphasizing that NVIDIA's $300 million investment is negligible compared to CoreWeave's $25 billion capital base. His comments reassured investors about the company's financial health and strategic use of debt.
CoreWeave's aggressive debt management strategy, which includes special purpose vehicles to mitigate risk, was also highlighted as a key factor in maintaining investor confidence. The stock's technical indicators, including a neutral RSI and bullish MACD, further supported the positive momentum.