This strategic move would help CoreWeave to strengthen its data center capabilities and expand its AI and high-performance computing (HPC) infrastructure.
Under the terms of the deal, Core Scientific shareholders will receive 0.1235 newly issued shares of CoreWeave Class A common stock for each share they hold.
The agreement reflects a total equity value of approximately $9 billion on a fully diluted basis and is based on CoreWeave’s five-day volume-weighted average price (VWAP) as of July 3.
The transaction is expected to close in the fourth quarter of 2025 pending regulatory approval.
Following the acquisition, CoreWeave will control roughly 1.3 gigawatts (GW) of gross power capacity across Core Scientific’s nationwide data center footprint, with an additional 1 GW available for future expansion.
Meanwhile, Adam Sullivan, the President and Chief Executive Officer of Core Scientific, said
“Together with CoreWeave, we will be well-positioned to accelerate the availability of world-class infrastructure for companies innovating with AI while delivering the greatest value for our shareholders, who will be able to participate in the tremendous upside potential of the combined company.”
Despite the strategic rationale behind the transaction, the market response to the deal has been negative.
According to Google Finance data, Core Scientific shares dropped nearly 17%, while CoreWeave stock fell around 3% during the early trading hours of July 7.
Industry experts have raised concerns about the deal’s fairness and long-term impact on shareholder value.
