CoreWeave Acquires Core Scientific in $9B Deal, Boosting AI Data Center Capacity
29 Sources
[1]
CoreWeave acquires data center provider Core Scientific in $9B stock deal
CoreWeave announced Monday that it signed a $9 billion all-stock deal to acquire Core Scientific, a data center infrastructure provider. As a result of the deal, CoreWeave says it will gain access to more than a gigawatt of data center capacity -- enough energy to power more than 850,000 homes --
[2]
AI hyperscaler buys its cryptomining partner for its AI GPUs and data center infrastructure -- CoreWeave acquires Core Scientific in long-awaited move
AI hyperscaler CoreWeave is buying its longtime server provider partner Core Scientific in a new vertical acquisition in the AI market. CoreWeave and Core Scientific were both cryptocurrency mining companies that pivoted to providing AI servers for rent as the tech hype machine shifted, with Core
[3]
Someone Will Look Dumb in $9 Billion AI Merger
Take a pair of one-time crypto miners, modify their business strategies, add in some retail investors and agree to an all-stock merger. CoreWeave Inc.'s takeover of smaller Core Scientific Inc. is no ordinary piece of deal-making. The journey from here should be fun to watch. Both have shifted
[4]
CoreWeave's $9B Core Scientific acquisition is a power play
All the GPUs in the world aren't worth much if you don't have a place to put them CoreWeave just added 1.3 gigawatts of datacenter capacity to its rent-a-GPU scheme with the $9 billion acquisition of crypto-mining outfit Core Scientific, the companies announced Monday. Power has become a major
[5]
AI data centre group CoreWeave strikes $9bn deal to buy rival Core Scientific
CoreWeave has struck a $9bn deal to acquire its rival Core Scientific, in a transaction set to eliminate $10bn of expensive lease costs for the artificial intelligence data centre operator. CoreWeave announced on Monday that it was acquiring Core Scientific in an all-stock transaction,
[6]
CoreWeave to acquire Core Scientific in $9 billion all-stock deal
CoreWeave founders Brian Venturo, at left in sweatshirt, and Mike Intrator slap five after ringing the opening bell at Nasdaq headquarters in New York on March 28, 2025. Artificial intelligence hyperscaler CoreWeave said Monday it will acquire Core Scientific, a leading data center infrastructure
[7]
Analysts move to the sidelines on CoreWeave stock after big surge since IPO
Analysts on Wall Street are getting a bit more cautious on CoreWeave stock. Analysts at Mizuho Securities and Stifel downgraded the artificial intelligence cloud computing stock to hold in the last 24 hours. Citigroup added to the dampening sentiment with a downside catalyst watch on the stock in a
[8]
CoreWeave to buy Core Scientific in $9 billion stock deal
Artificial intelligence hyperscaler CoreWeave announced Monday that it will acquire Core Scientific, a leading data center infrastructure provider, in an all-stock transaction valued at approximately $9 billion. The deal, which is expected to close in the fourth quarter of 2025 pending regulatory
[9]
CoreWeave's $9 billion acquisition of Core Scientific gives an AI roadmap for struggling Bitcoin miners
Now, CoreWeave has helped another crypto mining operation fully pivot. On Monday, the company announced its plans to acquire Core Scientific, a publicly traded Bitcoin miner. The acquisition, which CoreWeave said is expected to close in the fourth quarter, was an all-stock deal for about $9
[10]
AI Giant CoreWeave to Buy Bitcoin Miner Core Scientific in $9B Deal - Decrypt
The deal will give CoreWeave 1.3 gigawatts of gross power across Core Scientific's national data center footprint. AI infrastructure firm CoreWeave has signed an agreement to buy data center provider and Bitcoin miner Core Scientific in an all stock deal valued at around $9 billion, the company
[11]
CRWV update: CoreWeave $9 billion data deal to buy Core Scientific sends both stocks tumbling
The news sent share of both companies tumbling in early trading on Monday, with CoreWeave (NASDAQ: CRWV) slightly recovering by midday, down almost 3%, while Core Scientific (NASDAQ:CORZ) remained in the red, down a staggering 16%. However, Core Scientific stock is still up about 25% since the deal
[12]
CoreWeave to acquire data center builder Core Scientific for $9B in stock - SiliconANGLE
CoreWeave to acquire data center builder Core Scientific for $9B in stock Confirming recent rumors, cloud operator CoreWeave Inc. today announced plans to buy data center builder Core Scientific Inc. for $9 billion in stock. Shares of both companies declined on the news. Core Scientific launched
[13]
CoreWeave finalizes Core Scientific acquisition for $9B
AI infrastructure provider CoreWeave (CRWV) has finalized its acquisition of Core Scientific (CORZ), aiming to expand its data center capacity to support artificial intelligence and high-performance computing (HPC) workloads. The deal values Core Scientific at approximately $9 billion through an
[14]
Watch These CoreWeave Price Levels as Stock Slips After Announcing $9B Acquisition
Investors will be closely watching CoreWeave (CRWV) shares that slipped Monday, after the Nvidia (NVDA) partner said it will acquire Core Scientific (CORZ) in an all-stock deal for around $9 billion. The transaction, which hit the Wall Street rumor mill last month, values the Core Scientific stock
[15]
CoreWeave to acquire crypto miner Core Scientific - The Economic Times
AI data center firm CoreWeave announced on Monday it will acquire crypto miner Core Scientific in an all-stock deal. The move highlights CoreWeave's push to expand its infrastructure for AI workloads by leveraging Core Scientific's large-scale data center footprint, originally built for
[16]
Nvidia-backed CoreWeave to buy crypto miner Core Scientific in $9 billion deal
CoreWeave will buy crypto miner Core Scientific in an all-stock deal valued at about $9 billion, the company said on Monday, as AI infrastructure firms race to secure power supply to support their surging workloads. The acquisition highlights how artificial intelligence companies are moving beyond
[17]
Why CoreWeave's $9 Billion Deal Isn't About Chips - CoreWeave (NASDAQ:CRWV), Core Scientific (NASDAQ:CORZ)
CoreWeave, Inc. CRWV, an AI cloud-computing startup specializing in AI infrastructure, announced on July 7 its intent to acquire crypto miner Core Scientific, Inc. CORZ in a $9 billion all-stock deal. This acquisition is expected to enable CoreWeave to verticalize its data center footprint, aiming
[18]
CoreWeave, Core Scientific Shares Move Lower On $9 Billion All-Stock Deal - Core Scientific (NASDAQ:CORZ)
CoreWeave Inc CRWV and Core Scientific Inc CORZ shares are moving lower Monday after the companies announced a merger deal. What Happened: CoreWeave and Core Scientific entered into a definitive agreement in which CoreWeave will acquire Core Scientific in an all-stock deal. Under terms of the
[19]
CoreWeave Just Valued Core Scientific Like It's 2021 Again - CoreWeave (NASDAQ:CRWV), Core Scientific (NASDAQ:CORZ)
CoreWeave Inc CRWV just made a big move -- but the market didn't applaud. Shares of Core Scientific Inc CORZ plunged nearly 21% on Monday, even as AI cloud provider CoreWeave announced it will acquire the Bitcoin BTC/USD miner in an all-stock deal. The twist? Beth Kindig, CEO and Lead Tech
[20]
This Artificial Intelligence (AI) Stock Has Big Tech Partnerships and Big Potential | The Motley Fool
CoreWeave's actual public offering was a disappointment. It was both undersubscribed and priced lower than the company intended. In fact, Nvidia (NVDA 0.53%) had to come in and help rescue the offering by buying a large position in the IPO. The opening day performance was also a dud, and the stock
[21]
Bitcoin Miner Core Scientific Acquired by CoreWeave in $9B All-Stock Deal
CoreWeave ends $10B hosting pact, gains 977 BTC and full site control. CoreWeave has agreed to acquire Texas-based Bitcoin miner Core Scientific in an all-stock deal worth approximately $9 billion. The transaction, announced on Monday, is aimed at expanding CoreWeave's AI infrastructure
[22]
Why CoreWeave's Acquisition of Core Scientific Is a Brilliant Move | The Motley Fool
Large acquisitions like this $9 billion venture can sometimes blow up in the acquiror's face. However, delving into the details of this deal's terms, not only does the combined company appear to have a high-probability of realizing significant benefits, but the acquisition also appears to have
[23]
CoreWeave Pays $9 Billion for Bitcoin Miner Core Scientific | PYMNTS.com
The artificial intelligence (AI) company announced the deal Monday (July 7), saying it helped it "verticalize its data center footprint to future-proof revenue growth and enhance profitability." "CoreWeave expects to generate significant cost savings through streamlining business operations and
[24]
CoreWeave to buy Core Scientific in US$9 billion deal to meet AI power needs
CoreWeave will buy crypto miner Core Scientific in an all-stock deal valued at about US$9 billion, it said on Monday, as AI infrastructure firms race to secure the energy and data center capacity needed to power surging demand. Bitcoin miners' energy-intensive sites and power contracts, built
[25]
What CoreWeave's $9B Core Scientific Deal Means for Its Stock Price | Investing.com UK
After surviving Chapter 11 bankruptcy in late 2022, and emerging restructured in early 2024, Core Scientific Inc (NASDAQ:CORZ) is at the end of the line. On Monday, AI data center provider CoreWeave Inc (NASDAQ:CRWV) announced an all-stock acquisition of Core Scientific worth around $9 billion,
[26]
CoreWeave to buy Core Scientific in $9 billion deal to meet AI power needs
CoreWeave, Inc. is an American technology company founded in 2017, specializing in cloud infrastructure designed for compute-intensive workloads. It has positioned itself as a niche player in a market dominated by generalist giants. Its offering is built on a vertical specialization in artificial
[27]
CoreWeave acquires Core Scientific for $9bn
US-based CoreWeave, a specialist in cloud infrastructure for artificial intelligence, has announced the acquisition of Core Scientific, a major player in cryptocurrency mining, for $9bn. The transaction will be entirely in shares. Our analyst Tommy Douziech recently looked at CoreWeave's unique
[28]
CoreWeave to acquire crypto miner Core Scientific
CoreWeave, Inc. is an American technology company founded in 2017, specializing in cloud infrastructure designed for compute-intensive workloads. It has positioned itself as a niche player in a market dominated by generalist giants. Its offering is built on a vertical specialization in artificial
[29]
Nvidia-backed CoreWeave to buy crypto miner Core Scientific in $9 billion deal
(Reuters) -CoreWeave will buy crypto miner Core Scientific in an all-stock deal valued at about $9 billion, the company said on Monday, as AI infrastructure firms race to secure power supply to support their surging workloads. The acquisition highlights how artificial intelligence companies are
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CoreWeave, an AI infrastructure provider, has acquired Core Scientific, a data center company, in a $9 billion all-stock deal. This acquisition significantly expands CoreWeave's data center capacity and eliminates substantial lease costs, positioning the company for growth in the competitive AI market.
CoreWeave's Strategic Acquisition of Core Scientific
In a significant move that reshapes the landscape of AI infrastructure, CoreWeave has announced a $9 billion all-stock acquisition of Core Scientific, a data center provider
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. This deal marks a pivotal moment in the race to meet the escalating computational demands of AI companies.
Source: FT
Expansion of Data Center Capacity
The acquisition grants CoreWeave access to more than a gigawatt of data center capacity, equivalent to powering over 850,000 homes
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. Specifically, CoreWeave is adding approximately 1.21 GW of gross power to its capacity, with the potential to expand by another gigawatt or more2
.Strategic Implications and Operational Efficiencies
Source: The Register
CoreWeave CEO Michael Intrator emphasized that this acquisition accelerates their strategy to deploy AI and HPC workloads at scale
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. By eliminating the overhead of leasing server space from Core Scientific, CoreWeave stands to significantly enhance its operational efficiencies4
.Financial Aspects of the Deal
Under the terms of the all-stock transaction, Core Scientific shareholders will receive 0.1235 Class A shares in CoreWeave for each share of Core Scientific common stock
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. This structure gives Core Scientific a stake of less than 10% in the combined entity5
.Market Reactions and Analyst Perspectives
Source: Bloomberg
The deal has elicited mixed reactions from the market and analysts. Core Scientific's shares fell as much as 20% following the announcement, while CoreWeave's shares slipped nearly 5%
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. Some analysts have expressed concerns about the valuation, with Cantor analysts noting that the price appears low and the implied acquisition multiple is underwhelming5
.Related Stories
Transition from Crypto to AI
Both CoreWeave and Core Scientific have pivoted from their origins in cryptocurrency mining to focus on AI infrastructure
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. This acquisition represents a significant step in this transition, with CoreWeave indicating potential plans to repurpose or divest Core Scientific's crypto mining business over the medium term5
.Future Outlook and Industry Implications
The merger is expected to conclude by Q4 2025, subject to potential legal considerations
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. This deal positions CoreWeave as a major player in the AI infrastructure market, potentially challenging larger competitors like Amazon and Google2
.As the AI industry continues to grow at a rapid pace, this acquisition highlights the increasing importance of data center capacity and power infrastructure in supporting the computational needs of AI companies. It also underscores the ongoing consolidation and evolution within the tech sector as companies adapt to the demands of the AI era.
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