Reported 23 days 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