CoreWeave shares fell 3.58% to $89.84 on Wednesday as a broader rotation away from heavily leveraged, high-growth technology companies pressured AI stocks. The move came amid rising crude oil prices, geopolitical tensions involving the U.S. and Iran and elevated Treasury yields, although the 10-year yield eased below 4.7% as investors awaited minutes from the Federal Reserve's July meeting. Crude approached $86 a barrel after four straight sessions of gains, while President Donald Trump said a U.S. naval blockade remained in effect and that there were no ongoing negotiations with Tehran over the Strait of Hormuz. CoreWeave reported second-quarter revenue of $2.58 billion, up 112% year over year, and raised its full-year 2026 sales guidance to as much as $13.2 billion. However, its more than $100 billion backlog and $35 billion to $39 billion 2026 capital expenditure target leave the valuation sensitive to debt financing costs. Technically, the stock was above its 20-day and 50-day simple moving averages but below its 100-day and 200-day averages, with neutral RSI and a July death cross signaling a range-bound setup and longer-term resistance. Key resistance was identified at $94.50 and support at $91.