"This acquisition accelerates our strategy to deploy AI and HPC workloads at scale. Verticalizing the ownership of Core Scientific's high-performance data center infrastructure enables CoreWeave to significantly enhance operating efficiency and de-risk our future expansion, solidifying our growth trajectory."
"The deal is forecast to save CoreWeave some $10 billion in future leasing contract costs from Core Scientific."
"CoreWeave went public this past March in a highly anticipated initial public offering, which CNBC called the biggest venture-backed IPO for a U.S. company since."
"However, Core Scientific stock is still up about 25% since the deal was first reported by the Wall Street Journal last month."
CoreWeave has announced it will acquire Core Scientific for $9 billion in an all-stock deal. This acquisition aims to enhance CoreWeave's capabilities in artificial intelligence and high-performance computing by bringing Core Scientific's data center infrastructure in-house. Following the announcement, shares of both companies declined, although Core Scientific's stock remains up 25% since the report surfaced last month. The deal is projected to save CoreWeave approximately $10 billion in future leasing costs and is expected to close by Q4 2025, pending regulatory and shareholder approvals.
Read at Fast Company
Unable to calculate read time
Collection
[
|
...
]