Core Scientific Stock Surges 9% on CoreWeave Acquisition Deal

Core Scientific (CORZ.US) witnessed a notable increase in its stock price, surging over 9% to reach $15.85 per share. This upward movement elevated the company's total market capitalization to exceed $48 billion. The stock price rally was closely linked to the performance of CoreWeave (CRWV.US), with which Core Scientific has entered into an acquisition agreement. The deal, announced on July 7, 2025, involves CoreWeave acquiring Core Scientific through the issuance of new shares. Under the terms of the agreement, Core Scientific shareholders will receive 0.1235 shares of CoreWeave Class A common stock for each share of Core Scientific common stock they hold. The total value of the transaction is estimated to be around $90 billion.

The acquisition has faced opposition from Two Seas Capital LP, the largest shareholder of Core Scientific. Two Seas Capital has publicly expressed concerns about the structure of the deal, arguing that it could expose Core Scientific shareholders to excessive risk. Despite this opposition, the transaction is expected to proceed, with a shareholder vote anticipated in the autumn of 2025. The exact date for the vote has not been disclosed, but market speculation suggests it will occur during the fall season. The outcome of this vote will determine whether the acquisition moves forward as planned.

This significant development in the tech industry highlights the strategic importance of Core Scientific and CoreWeave in the market. The acquisition, if approved, would create a powerful entity with a combined market capitalization of approximately $90 billion. This merger could potentially reshape the competitive landscape in the tech sector, as both companies are known for their innovative solutions and strong market presence. The opposition from Two Seas Capital adds an element of uncertainty, as the largest shareholder's concerns could influence the voting outcome. However, the market's positive response to the deal, as evidenced by the stock price surge, indicates a general optimism about the potential benefits of the acquisition.

The upcoming shareholder vote will be a critical juncture for both companies. If the acquisition is approved, it will mark a significant milestone in the tech industry, potentially leading to new opportunities and challenges. Conversely, if the deal is rejected, it could lead to a period of uncertainty and potential restructuring for Core Scientific. Regardless of the outcome, the acquisition attempt underscores the dynamic nature of the tech sector, where mergers and acquisitions are common strategies for growth and innovation. The market's reaction to the deal and the subsequent developments will be closely watched by industry analysts and investors alike.