Core Scientific to Be Acquired by CoreWeave in $9 Billion Deal, Enhancing Its Role in AI Data Infrastructure

Core Scientific (CORZ), a provider of high-performance infrastructure for AI and compute-intensive workloads, has agreed to be acquired by CoreWeave in a $9 billion all-stock transaction. The move represents a strategic milestone for Core Scientific, positioning the company as a key player in a combined platform poised to become one of the largest and most cost-efficient AI infrastructure providers in North America.

Under the terms of the agreement, Core Scientific shareholders will receive 0.1235 shares of CoreWeave Class A stock (CRWV) for each share of CORZ common stock, reflecting a 66 percent premium over the stock's closing price on June 25, 2025. Once completed, Core Scientific shareholders will own under 10 percent of the newly combined company.

The deal enables Core Scientific to shift from a leasing model to direct ownership of its data center and power assets, aligning with CoreWeave's vertically integrated approach to AI infrastructure. The combined platform will operate approximately 1.3 gigawatts of total power capacity across Core Scientific's national footprint, with over 1 gigawatt available for near-term expansion. Roughly 840 megawatts are currently in use for high-performance compute workloads, with 500 megawatts supporting cryptocurrency mining.

This transition is expected to unlock significant cost savings and investment flexibility. CoreWeave estimates over $10 billion in avoided leasing costs over the next 12 years and anticipates up to $500 million in annual cost savings by 2027. The agreement, unanimously approved by Core Scientific's board, remains subject to shareholder and regulatory approvals and is expected to close in the fourth quarter of 2025.

The post Core Scientific to Be Acquired by CoreWeave in $9 Billion Deal, Enhancing Its Role in AI Data Infrastructure appeared first on PRISM MarketView.

COMTEX_467066209/2927/2025-07-07T14:00:51