CoreWeave, the AI‑focused GPU cloud provider, announced on July 7, 2025, that it will acquire long‑time data‑center partner Core Scientific in a $9 billion all‑stock transaction, offering 0.1235 CoreWeave Class A shares per Core Scientific share—implying $20.40 per share, roughly a 66 % premium to the June 25 unaffected price. Through this deal, CoreWeave will gain ownership of approximately 1.3 GW of gross power capacity across Core Scientific’s national footprint (840 MW supporting HPC workloads and 500 MW crypto capacity), with an additional 1 GW potential for future growth. The strategic rationale centers on verticalizing its data‑center infrastructure to “future‑proof revenue growth and enhance profitability,” as CoreWeave CEO Michael Intrator emphasized: “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”. The merger is projected to eliminate over $10 billion in future lease obligations and deliver $500 million in annual cost savings by end of 2027.
Also Read: HPE Closes Juniper Acquisition to Deliver AI-Driven Portfolio
Additional anticipated benefits include improved financing flexibility, direct control over power infrastructure, and stronger expertise in data‑center development. Core Scientific CEO Adam Sullivan added that the combined entity will be “well‑positioned to accelerate the availability of world‑class infrastructure for companies innovating with AI,” allowing shareholders to “participate in the tremendous upside potential of the combined company”. Both companies have pivoted from crypto mining toward AI and HPC, with Core Scientific having emerged from 2022 bankruptcy and CoreWeave transitioning after Ethereum’s Merge. The announced deal, which triggered share declines for both—CoreWeave down ~3 % due to dilution concerns and Core Scientific off ~16–18 % on valuation worries—awaits regulatory and shareholder approval and is expected to close in Q4 2025.
