CoreWeave has announced plans to purchase Core Scientific through an all-stock transaction valued at around $9 billion.
On the news, CoreWeave’s shares slipped roughly 4% on Monday, while Core Scientific’s stock tumbled by about 20%. Both companies had previously seen their stock prices climb in late June, following a Wall Street Journal report revealing acquisition discussions were underway.
This acquisition is set to strengthen CoreWeave’s position in the competitive AI infrastructure landscape by securing more of its critical computing resources under direct ownership.
According to CoreWeave CEO Michael Intrator, the merger is expected to eliminate $10 billion in future lease liabilities and improve operational efficiency substantially.
Pending regulatory reviews and shareholder approval, the deal is anticipated to close in the fourth quarter of 2025.
Once completed, the acquisition will give CoreWeave control over Core Scientific’s U.S.-based data center network, totaling 1.3 gigawatts of gross capacity, with an additional gigawatt reserved for potential expansion.
