CRWV update: CoreWeave $9 billion data deal to buy Core Scientific sends both stocks tumbling
Briefly

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.
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.
Read at Fast Company
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