CoreWeave announced on July 7, 2025, its definitive agreement to acquire Core Scientific, a data center infrastructure provider, in an all-stock deal valued at approximately $9 billion. The transaction is expected to close in the fourth quarter of 2025, pending regulatory and shareholder approval.
The acquisition is projected to eliminate $10 billion in future lease obligations for CoreWeave and significantly enhance its operating efficiency. It expands CoreWeave's access to power and real estate, giving it ownership of 1.3 gigawatts of gross capacity across Core Scientific's U.S. data center footprint, with another gigawatt available for future growth.
Core Scientific shareholders will receive 0.1235 CoreWeave shares for each share they hold, implying a $20.40 per-share valuation and a 66% premium to Core Scientific's closing stock price before deal talks were reported. CoreWeave plans to either divest Core Scientific's cryptocurrency mining business or convert it to handle AI workloads after the deal closes.
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