CoreWeave announced $4 billion in new debt right after its earnings pop, sending the stock down; the host distrusts management and won't touch it.

Management highlighted ~$9B in customer prepayments and pledged profitability by H1 2028, easing funding fears; the stock surged and lifted the whole semi complex, which the host sees as institutions riding the report.

The host sees CoreWeave being dragged lower short-term by the Nebius report.

The host reiterates his prior call that the CoreWeave doom loop was overblown, with the company funding itself via customer prepayments and Nvidia financing rather than market borrowing.

CoreWeave confirmed it won't issue unsecured debt at current yields, funding capex via Microsoft/Nvidia prepayments and existing loans; he says it has basically bottomed.