CoreWeave and Core Scientific Stocks Plunge After $9 Billion Acquisition Announcement

Reported about 12 hours ago

CoreWeave announced an all-stock acquisition of Core Scientific for $9 billion, prompting significant drops in both companies' stock prices, with CoreWeave down 4.5% and Core Scientific dropping up to 20%. The deal aims to enhance CoreWeave's AI capabilities by integrating Core Scientific's data center infrastructure, potentially adding over two gigawatts of power capacity in-house while eliminating significant leasing costs. Despite the stock declines, CoreWeave anticipates the acquisition will support its growth strategy.

Source: YAHOO

View details

You may also interested in these wikis

Back to all Wikis