In $9B All-Equity Deal, CoreWeave Moves to Acquire Core Scientific.

CoreWeave to Acquire Core Scientific in $9 Billion Stock Deal

CoreWeave (CRWV), a leading provider of cloud and AI infrastructure, has unveiled plans to acquire crypto-mining data center operator Core Scientific (CORZ) in an all-stock transaction valued at roughly $9 billion.

Under the deal’s terms, Core Scientific shareholders will receive 0.1235 shares of CoreWeave for each Core Scientific share, valuing Core Scientific at $20.40 per share. This represents a 66% premium over its share price in late June.

The acquisition is still subject to regulatory and shareholder approval and is expected to close by the end of 2025.

CoreWeave highlighted that the merger could eliminate more than $10 billion in projected lease obligations over the next 12 years and grant access to approximately 1.3 gigawatts of gross power capacity from Core Scientific’s data center assets.

Following the news, CoreWeave’s stock slipped 4% in pre-market trading, while Core Scientific shares fell around 14.7% to $15.48.