CoreWeave in Advanced Talks to Acquire Core Scientific, Signaling Major Shift in AI Infrastructure Landscape

Core Scientific shares surge 33% on report of buyout talks with CoreWeave

The company's stock was briefly halted after the report, and then proceeded to have its second-sharpest rally since Core Scientific returned to the Nasdaq in January 2024 after completing a reorganization. Its biggest one-day gain came last June, when the shares popped 40% on news that the company would significantly expand its AI business with CoreWeave. The Journal reported, citing people familiar with the matter, that a transaction could be finalized in the coming weeks, barring any last-minute snags. The deal would deepen a long-running partnership that includes billions of dollars in contracted commitments. With Thursday's jump, Core Scientific has a market cap of close to $5 billion. That's about five times the valuation implied by CoreWeave's previously rejected takeover bid last year. CoreWeave shares fell about 1% on Thursday. The relationship between the two companies has become key to Core Scientific's turnaround story. Since exiting bankruptcy in January of last year, Core Scientific has pivoted aggressively into artificial intelligence infrastructure, converting a significant portion of its mining capacity to host high-performance compute workloads. Its 12-year partnership with CoreWeave is now expected to generate $10.2 billion in revenue commitments, with 590 megawatts of infrastructure slated for delivery by early 2026. The move from a distressed bitcoin miner into a player in the AI boom mirrors a shift across the broader mining sector as firms race to retrofit data centers for more lucrative AI clients. Still, analysts warn that supporting AI workloads often requires entirely new builds, not just repurposed hardware. Core Scientific didn't immediately respond to a request for comment. A CoreWeave spokesperson declined to comment.

CoreWeave reportedly seeking to acquire data center operator Core Scientific - SiliconANGLE

CoreWeave reportedly seeking to acquire data center operator Core Scientific CoreWeave Inc. is reportedly seeking to buy Core Scientific Inc., an infrastructure company on which it depends to power its cloud platform. The Wall Street Journal today cited sources as saying that the sale could be finalized within weeks. Shares of Core Scientific jumped more than 30% on the report. CoreWeave, which has seen its market capitalization triple since going public in March, ended the trading session down about 0.9%. CoreWeave operates a cloud platform optimized to run artificial intelligence workloads. It provides access to more than a half-dozen of Nvidia Corp.'s graphics cards, including the latest and most advanced Blackwell B200. Customers can also access other infrastructure resources including servers equipped solely with central processing units. Core Scientific launched in 2017 as a bitcoin mine operator. It went public in early 2022 and filed for Chapter 11 protection a few months later. Last January, Core Scientific exited bankruptcy with a plan to build and operate AI-optimized data centers. It inked its first infrastructure deal with CoreWeave around the same time. CoreWeave originally rented 15 megawatts of capacity in Core Scientific's Austin data center. Since then, the order has expanded to cover 590 megawatts across six sites. According to Core Scientific, its contracts with the cloud provider are set to generate more than $10 billion in revenue over the next 12 years. It's believed that CoreWeave first floated the idea of buying the company last year. At the time, it reportedly offered about $1 billion. Given that Core Scientific has since become one of CoreWeave's most important infrastructure partners, the AI cloud provider might be willing to up its bid. CoreWeave may seek to finance the transaction with stock rather than cash to avoid weakening its balance sheet, which already carries a significant amount of debt. The company had about $8 billion in outstanding obligations at the end of December 2024. At the time, it faced interest payments of $7.5 billion by the end of 2026. CoreWeave has since refinanced some of that debt to secure more favorable terms. If it closes, the Core Scientific deal would mark the company's second major acquisition since the start of the year. Core Weave previously bought AI tooling provider Weights & Biases Inc. in a deal reportedly worth $1.7 billion. Shortly after the acquisition, the cloud provider released a new service called W&B Inference that promises to ease the task of building AI applications. CoreWeave is working to upgrade not only its software capabilities but also the underlying infrastructure. In April, the company made thousands of Nvidia's Blackwell B200 chips available to customers. The processors run in liquid-cooled GB200 NVL72 appliances, which each combine 72 graphics cards with 36 CPUs and supporting equipment.

Core Scientific shares soar as CoreWeave revives buyout talks

CoreWeave -- once a cryptocurrency miner and now a rising AI infrastructure provider -- is reportedly in acquisition talks with Core Scientific, after increasing a previously rejected bid made last year to the Bitcoin mining firm. A takeover bid could be "finalized in the company weeks," The Wall Street Journal reported on Thursday, citing sources with knowledge of the discussions. No financial details were provided, though the offer would have to account for Core Scientific's rapid expansion over the past year. Shares of Core Scientific rallied more than 23% on the news, with trading temporarily halted after the Journal's report. At current values, Core commands a market capitalization of roughly $3.6 billion. Related: Top Bitcoin miners produced nearly $800M of BTC in Q1 2025 As the Journal reported, CoreWeave offered $5.75 per share in a takeover bid for Core Scientific last year, valuing the Bitcoin miner at approximately $1 billion. At the time, Core Scientific declined the offer, expressing a preference to deepen its existing partnership with CoreWeave, which included a $1.225 billion agreement to enhance infrastructure support for its Nvidia GPUs. Core Scientific's decision to reject the offer ultimately paid off, as its stock now trades at nearly three times the original bid. As Cointelegraph reported, the company's first-quarter earnings more than doubled, with net income reaching $580 million. However, revenue fell short of analyst expectations, coming in at $79.5 million. Most of that revenue ($67.2 million) was from self-mining. Like other Bitcoin miners, Core attributed its revenue and mining drops to the quadrennial halving in April 2024, which reduced the Bitcoin network's mining rewards to 3.125 Bitcoin (BTC) from 6.25 BTC. Core Scientific is listed as the 30th largest corporate Bitcoin holder, with 977 BTC on its books, according to industry data.

Core Scientific Stock Surges On Acquisition Reports With CoreWeave - Core Scientific (NASDAQ:CORZ)

Shares of Core Scientific Inc. CORZ are up Thursday following a report suggesting CoreWeave inc. CRWV is in discussions to acquire the bitcoin mining and hosting company. What To Know: According to the Wall Street Journal, the two companies are in talks and could finalize a deal in the coming weeks if talks proceed without issue. CoreWeave previously made an unsuccessful attempt to acquire Core Scientific about a year ago, offering $5.75 per share at the time; a bid that was rejected for undervaluing the business. Core Scientific shares now trade at more than double that earlier offer, giving the company a market capitalization of roughly $3.7 billion. Core Scientific operates one of the largest high-powered digital infrastructure platforms in North America focused on bitcoin mining and hosting services. The company has seen growing interest amid a shortage of data center space and power capacity as demand from AI-related workloads continues to rise. It also maintains a significant 12-year hosting partnership with CoreWeave, delivering large-scale capacity for AI computing operations. CoreWeave, which went public in March and is valued at approximately $75 billion, specializes in cloud infrastructure for AI workloads. It serves major clients like Microsoft, its largest customer and acts as a middle layer offering access to Nvidia GPUs for firms such as Meta and IBM. While Core Scientific shares rose on the takeover speculation, CoreWeave's stock slipped slightly reflecting typical market reactions in acquisition scenarios where the buyer faces potential integration or financing challenges. Price Action: Core scientific shares were up 24% at $15.25 and Coreweave shares were down 1.13% at $157.80 at the time of writing, according to Benzinga pro. Read Next: Trump's Fed Chairman Shortlist Is In: What Investors Need To Know Image Via Shutterstock. CORZCore Scientific Inc $15.1022.8% Stock Score Locked: Edge Members Only Benzinga Rankings give you vital metrics on any stock - anytime. Unlock Rankings Edge Rankings Momentum 52.10 Growth Not Available Quality Not Available Value 18.16 Price Trend Short Medium Long Overview CRWVCoreWeave Inc $158.17-0.83% This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors. Market News and Data brought to you by Benzinga APIs

CRWV-CORZ Potential Deal Could Unlock $2.8 Billion Hidden Value For Bitcoin Miner, Says Morgan Stanley - Core Scientific (NASDAQ:CORZ)

In a potential game-changer for the cryptocurrency mining sector, Morgan Stanley has forecasted that CoreWeave Inc.'s CRWV proposed acquisition of Core Scientific Inc. CORZ could boost the Bitcoin BTC/USD miner's market capitalization by an impressive $2.8 billion. What Happened: This Morgan Stanley analysis was shared by Eric Jackson from EMJ Capital amid renewed takeover discussions between the two companies, as reported by the Wall Street Journal, with a deal possibly finalizing within weeks if negotiations proceed smoothly. "While the potential terms of a deal were not released, the estimated profits from the current contracts exceed Core Scientific's market cap by ~$2.8B," said Jackson in his X post, quoting Morgan Stanley. Core Scientific, currently valued at approximately $4.87 billion, rejected $5.75 per share offer from CoreWeave a year ago. The company operates one of North America's largest digital infrastructure platforms focused on bitcoin mining and hosting. The company's strategic 12-year hosting partnership with CoreWeave, which provides 590 MW of capacity across 12 contracts valued at $10 billion, underpins this growth. "Core Scientific receives a 75%-80% profit margin on the CoreWeave contract, which implies that Core Scientific receives a profit of ~$7.75bn at the midpoint," Jackson highlighted in another post. See Also: Microsoft Is 'Playing Chess, And Others Are Playing Checkers:' Dan Ives Says MSFT Could Be A $5 Trillion Company In 18 Months Why It Matters: CoreWeave, a $75.87 billion cloud infrastructure giant serving AI workloads for clients like Microsoft Corp. MSFT and Meta Platforms Inc. META, is funding up to $750 million in data center build-outs, with Core Scientific contributing just $104 million. "Core Scientific receives a 75%-80% profit margin on the CoreWeave contract, which implies that Core Scientific receives a profit of ~$7.75bn at the midpoint," explained Jackson. Price Action: CRWV shares were up 1.97% in premarket on Friday and ended 0.89% lower on Thursday. It has risen by 295.20% since its listing in March. Benzinga Edge Stock Rankings shows that CRWV had a stronger price trend over the short, medium, and long term. Its value ranking was poor at the 9.72nd percentile. The details are available here. CORZ shares were up 7.89% in premarket on Friday and ended 33.01% higher on Thursday. It has risen by 12.98% on a year-to-date. Benzinga Edge Stock Rankings shows that CORZ had a stronger price trend over the short, medium, and long term. Its momentum ranking was solid; however, its value ranking was poor at the 16.3rd percentile. The details of other metrics are available here. The SPDR S&P 500 ETF Trust SPY and Invesco QQQ Trust ETF QQQ, which track the S&P 500 index and Nasdaq 100 index, respectively, were higher in premarket on Thursday. The SPY was up 0.39% at $614.24, while the QQQ advanced 0.46% to $548.73, according to Benzinga Pro data. Read Next: Ross Gerber Touts An Idea To Cut Deficit By Trillions Of Dollars: 'Let The Tax Cuts Expire And Full SALT Come Back' Image Credit: Shutterstock $BTCBitcoin$106766.78-0.24%Stock Score Locked: Want to See it? Benzinga Rankings give you vital metrics on any stock - anytime. Reveal Full ScoreEdge RankingsMomentum95.96Price TrendShortMediumLongOverviewCORZCore Scientific Inc$17.054.22%CRWVCoreWeave Inc$161.231.99%METAMeta Platforms Inc$730.990.67%MSFTMicrosoft Corp$497.28-0.03%QQQInvesco QQQ Trust, Series 1$548.000.33%SPYSPDR S&P 500$613.610.28%Market News and Data brought to you by Benzinga APIs

What's Going On With CoreWeave (CRWV) Stock? - CoreWeave (NASDAQ:CRWV)

Cloud infrastructure provider CoreWeave Inc CRWV is in renewed discussions to acquire Bitcoin miner Core Scientific Inc., according to reports. Here's why the stock has been volatile. What To Know: This potential merger has drawn significant interest, with a Morgan Stanley forecast suggesting the deal could boost Core Scientific's market capitalization by an impressive $2.8 billion. This new takeover attempt, reported by the Wall Street Journal, could see a deal finalized within weeks. The development comes about a year after Core Scientific, now valued at approximately $4.87 billion, rejected a $5.75 per share offer from CoreWeave, which it deemed an undervaluation. The two companies are already connected through a significant 12-year, $10 billion hosting partnership. Analysis shared by Eric Jackson of EMJ Capital highlights that Core Scientific reaps a highly favorable 75%-80% profit margin from this existing contract. This suggests potential profits of around $7.75 billion, a figure that eclipses Core Scientific's current market capitalization. The acquisition talks underscore the intense demand for data center capacity and power, driven by the artificial intelligence sector. CoreWeave, a company valued at roughly $75.87 billion with major clients like Microsoft and Meta, is seeking to expand its infrastructure. Price Action: CRWV shares are trading higher by 5.24% to $166.49 Friday afternoon. The stock has a 52-week high of $187.00 and a 52-week low of $33.52. Read Also: CoreWeave IPO Was 'Fantastic Entry Point,' But Stock Now 'A Little Overheated' How To Buy CRWV Stock By now you're likely curious about how to participate in the market for CoreWeave - be it to purchase shares, or even attempt to bet against the company. Buying shares is typically done through a brokerage account. You can find a list of possible trading platforms here. Many will allow you to buy "fractional shares," which allows you to own portions of stock without buying an entire share. In the case of CoreWeave, which is trading at $165.01 as of publishing time, $100 would buy you 0.61 shares of stock. If you're looking to bet against a company, the process is more complex. You'll need access to an options trading platform, or a broker who will allow you to "go short" a share of stock by lending you the shares to sell. The process of shorting a stock can be found at this resource. Otherwise, if your broker allows you to trade options, you can either buy a put option, or sell a call option at a strike price above where shares are currently trading - either way it allows you to profit off of the share price decline. Image: Shutterstock CRWVCoreWeave Inc$166.875.56%Stock Score Locked: Edge Members Only Benzinga Rankings give you vital metrics on any stock - anytime. Unlock RankingsEdge RankingsMomentumNot AvailableGrowthNot AvailableQualityNot AvailableValue9.72Price TrendShortMediumLongOverviewMarket News and Data brought to you by Benzinga APIs

Core Scientific's Acquisition By CoreWeave 'Makes Strategic Sense,' Analysts Say - Core Scientific (NASDAQ:CORZ)

CoreWeave Inc. CRWV is in talks to acquire Core Scientific Inc CORZ Needham On Core Scientific Analyst John Todaro reiterated a Buy rating and price target of $18. There are four reasons why the proposed acquisition "make sense," Todaro said in a note. It would eliminate around $850 million in annual lease expenses and give CoreWeave ownership of the 590MW of capacity it has contracted with Core Scientific, he added. "CRWV would have ~300MW in additional capacity after an acquisition, which has the potential to be suitable for HPC/AI workloads," the analyst wrote. CoreWeave would also own sites that are "highly suitable for inference workloads," as Core Scientific's sites are mostly near major metro areas, he further stated. Check out other analyst stock ratings. Canaccord Genuity On Core Scientific Analyst Joseph Vafi maintained a Buy rating and price target of $17. Core Scientific's stock climbed on news of the potential acquisition deal with its "large strategic customer, CoreWeave," Vafi said. A deal between these two companies "makes strategic sense in many ways," he wrote. Most of Core Scientific's data center portfolio is being repurposed from Bitcoin mining to AI data center. CoreWeave has already procured much of this capacity under long-term contracts, the analyst stated. By acquiring Core Scientific, CoreWeave would no longer need to pay service costs, he added. CORZ, CRWV Price Action: Shares of Core Scientific were up 0.76% to $16.52 at the time of publication on Friday; CoreWeave shares are up 5.73% at $167.23. Read More: * CRWV-CORZ Potential Deal Could Unlock $2.8 Billion Hidden Value For Bitcoin Miner, Says Morgan Stanley Photo: Shutterstock CORZCore Scientific Inc$16.450.52%Stock Score Locked: Edge Members Only Benzinga Rankings give you vital metrics on any stock - anytime. Unlock RankingsEdge RankingsMomentum90.10GrowthNot AvailableQualityNot AvailableValue16.30Price TrendShortMediumLongOverviewCRWVCoreWeave Inc$166.695.45%Market News and Data brought to you by Benzinga APIs

CoreWeave in talks to buy Core Scientific, source says

(Reuters) -CoreWeave is in talks to buy Core Scientific, after the bitcoin miner rejected an earlier deal from the cloud provider last year, a source familiar with the matter told Reuters. Shares of Core Scientific closed 33% higher on Thursday after the Wall Street Journal first reported the news. Core Scientific has a market value of about $5 billion, as of Friday's closing price. Crypto miners use vast amounts of electricity to run their operations and are being increasingly targeted by bigger peers and AI technology companies, as they try to consolidate power supply for their energy-hungry enterprises. A deal could be finalized in the coming weeks, according to the source. The exact terms being discussed could not be learned. Core Scientific did not respond to a Reuters request for comment. CoreWeave declined to comment. Core Scientific received an unsolicited non-binding proposal from CoreWeave in June last year to acquire all of the company's outstanding shares on a fully diluted basis for $1.02 billion, or $5.75 per share in cash. At the time, Core Scientific had said that the deal significantly undervalued it and was not in the best interests of the company and its shareholders. The two companies signed a series of 12-year contracts then, including an agreement under which Core Scientific would provide CoreWeave with about 200 MW of infrastructure to power its high-performance computing services. (Reporting by Juby Babu in Mexico City; Harshita Mary Varghese in Bangalore and Echo Wang in New York; Editing by Mohammed Safi Shamsi and Alan Barona)