CoreWeave Inc. (CRWV) is having a good Thursday, and it's not just because the broader market is in a chipper mood. Sure, the Nasdaq-100 is up 0.97% and the S&P 500 is gaining 0.53%, which always helps tech stocks catch a tailwind. But the real story here is the company's CEO stepping up to swat down some uncomfortable questions about how CoreWeave finances its operations.

CEO Takes On The Critics

In a recent podcast appearance, CEO Michael Intrator went after allegations that CoreWeave is engaging in circular financing with Nvidia. He didn't mince words, calling such claims "ridiculous" and mathematically incoherent. His point? Nvidia's $300 million investment is pocket change compared to CoreWeave's total capital pile of over $25 billion, which underpins a valuation of $42 billion. The math simply doesn't support the circular financing narrative, according to Intrator.

But he didn't stop there. Intrator explained how the company structures its debt through special purpose vehicles, a setup that ensures revenue from contracts with heavyweights like Microsoft and Meta Platforms gets ring-fenced. That money covers operating expenses and pays back lenders first, which is designed to reduce risk. Think of it like traditional infrastructure financing—nothing exotic, just smart financial engineering that keeps the lights on and creditors happy.

The CEO's confident defense seems to have resonated with investors, who are pushing shares higher. It helps that the broader tech sector is also riding high Thursday, creating a favorable backdrop for CoreWeave's rally.

The Technical Picture Is Interesting

From a technical standpoint, CoreWeave is sending mixed signals. The stock is trading 24.1% above its 20-day simple moving average, which screams short-term momentum. But it's sitting 5.1% below its 100-day moving average, suggesting some longer-term hesitation. Over the past year, shares have exploded by 143.10%, and they're currently positioned much closer to their 52-week highs than lows.

The RSI sits at 57.50, firmly in neutral territory—not overbought, not oversold. Meanwhile, the MACD is above its signal line, pointing to bullish momentum. Put it all together and you get a picture of mixed momentum: the stock is moving, but it's not clear how much runway remains.

Key technical levels to watch include resistance at $105.50 and support at $85.00. Break through resistance and the rally could extend; fall through support and things get dicier.

What To Expect From Earnings

Investors are circling February 14 on their calendars for CoreWeave's next earnings report. Wall Street is expecting an EPS loss of 65 cents on revenue of $1.54 billion. It's not a make-or-break moment, but it could provide important context for the company's growth trajectory and whether its ambitious infrastructure buildout is paying off.

Analyst sentiment remains broadly positive. The stock carries a Buy rating with an average price target of $125.52. That said, recent analyst moves show some caution creeping in. Barclays slapped an Equal-Weight rating on the stock and lowered its target to $90.00 on January 12. Wells Fargo maintained an Overweight rating but cut its target to $125.00 on January 8. And Truist Securities initiated coverage with a Hold rating and an $84.00 target on January 6.

MarketDash Edge Rankings

Looking at the MarketDash Edge scorecard, CoreWeave shows some interesting characteristics. The Value score comes in at 71 out of 100, which rates as neutral—the stock is fairly valued compared to its peers, not screaming bargain but not wildly overpriced either. The Momentum score is more impressive at 83 out of 100, earning a bullish rating as the stock outperforms the broader market.

The verdict? CoreWeave fits the profile of a "High-Flyer" stock. The strong momentum score confirms the upward trend is real, while the fair valuation suggests there's room to run without excessive risk—assuming, of course, that the business continues to execute.

ETF Exposure Matters Here

CoreWeave has significant exposure through several ETFs, which creates an interesting dynamic. The Tradr 2X Long CRWV Daily ETF (NASDAQ:CWVX) holds a whopping 118.53% weight in the stock. The iShares US Digital Infrastructure and Real Estate ETF (NYSE:IDGT) has a 4.65% weight, while the REX IncomeMax Option Strategy ETF (NASDAQ:ULTI) carries a 5.05% weight.

Why does this matter? Because when these ETFs see significant inflows or outflows, they're forced to automatically buy or sell CoreWeave shares to maintain their target weights. That can amplify price movements in either direction, creating additional volatility for the stock.

The Bottom Line

CoreWeave shares were up 10.95% at $99.61 at the time of publication Thursday. The CEO's robust defense of the company's financing structure appears to have eased investor concerns, at least for now. With earnings on the horizon and analysts maintaining generally bullish views, the stock has momentum. Whether that momentum carries through depends on execution and whether the business can deliver on its ambitious growth plans.