US EditionAI Data Centre Group CoreWeave Strikes $9bn Deal to Buy Rival Core Scientific
- CoreWeave announced an all-stock acquisition of Core Scientific valued at approximately $9 billion on Monday.
- Following last year's rejected $1.02 billion bid, CoreWeave's renewed interest led to the current $9 billion acquisition, citing undervaluation concerns that delayed negotiations.
- CoreWeave will issue 0.1235 shares per Core Scientific share, valuing them at $20.40 each and implying a nearly 66% premium over prior prices.
- Following the announcement, CoreWeave's shares fell about 5%, and Core Scientific's dropped 19%, as the deal eliminates over $10 billion in lease obligations.
- Beyond this transaction, the deal highlights how consolidating crypto-era infrastructure strengthens CoreWeave's long-term position in the AI arms race by securing critical energy resources.
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CoreWeave Just Valued Core Scientific Like It’s 2021 Again - CoreWeave (NASDAQ:CRWV), Core Scientific (NASDAQ:CORZ)
CoreWeave Inc (NASDAQ:CRWV) just made a big move — but the market didn't applaud. Shares of Core Scientific Inc (NASDAQ:CORZ) plunged nearly 21% on Monday, even as AI cloud provider CoreWeave announced it will acquire the Bitcoin (CRYPTO: BTC) miner in an all-stock deal. The twist? Beth Kindig, CEO and Lead Tech Analyst at I/O Fund, flagged the valuation in a post on X: CoreWeave $CRWV has agreed to acquire Core Scientific $CORZ in an all-stock…
CRWV update: CoreWeave $9 billion data deal to buy Core Scientific sends both stocks tumbling
AI cloud computing giant CoreWeave announced on Monday it has signed a deal to acquire Core Scientific, a data center provider, in an all-stock deal valued at $9 billion. 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 abo…
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