CoreWeave to Acquire Core Scientific in $9 Billion Deal for AI Scaling

CoreWeave has agreed to acquire Core Scientific in a $9 billion all-stock transaction. This acquisition will provide CoreWeave with over a gigawatt of US data-center power, significantly enhancing its capabilities to scale artificial intelligence operations. Core Scientific shareholders will receive 0.1235 CoreWeave Class A shares per Core Scientific share, valuing each share at approximately $20.40. The deal is expected to close in the fourth quarter of 2025. This acquisition comes after Core Scientific filed for Chapter 11 bankruptcy in 2022, and as a result, Core Scientific shareholders will own less than 10% of the new entity.

This acquisition is a strategic move by CoreWeave to strengthen its data-center capabilities in the US. By acquiring Core Scientific, CoreWeave gains access to a significant amount of data-center power, which is crucial for scaling artificial intelligence operations. This move will not only enhance CoreWeave's capabilities but also position it as a major player in the US data-center market. The acquisition is expected to close in the fourth quarter of 2025, giving CoreWeave ample time to integrate Core Scientific's operations and resources into its own.

The acquisition of Core Scientific by CoreWeave is a significant development in the US data-center market. It highlights the growing importance of data-center capabilities in the era of artificial intelligence and the increasing competition among companies to gain a competitive edge in this area. The acquisition is also a testament to CoreWeave's strategic vision and its commitment to investing in cutting-edge technology to drive growth and innovation. With this acquisition, CoreWeave is well-positioned to capitalize on the growing demand for data-center services and to emerge as a leader in the US data-center market.