CoreWeave will acquire Core Scientific in an all-stock deal valued at $9 billion, redirecting Core Scientific's 1.3 gigawatts data center capacity from Bitcoin mining to AI and high-performance computing. The merger includes a fixed exchange ratio for shares and aims to enhance operating efficiency while eliminating over $10 billion in lease overhead. Expected cost savings of $500 million annually by 2027 will further solidify growth as Core Scientific transitions its focus from Bitcoin to AI infrastructure, following its emergence from bankruptcy and relisting on Nasdaq.
This acquisition accelerates our strategy to deploy AI and HPC workloads at scale, marking a major step away from Bitcoin operations, enhancing operating efficiency.
Owning this foundational layer of our platform will enhance our performance and expertise as we continue helping customers unleash AI's full potential.
The acquisition will eliminate over $10 billion in lease overhead for CoreWeave and is expected to generate $500 million in annual cost savings by 2027.
Core Scientific began shifting its focus to AI after emerging from bankruptcy and relisting on Nasdaq in 2024, signaling a future centered more on AI infrastructure than Bitcoin.
Collection
[
|
...
]