CoreWeave Finalizes $9B Deal With Core Scientific for AI Expansion

- CoreWeave to acquire Core Scientific in $9 billion all-stock deal. - Acquisition expands AI and HPC data center capacity. On July 7, 2025, industry outlets reported that CoreWeave, a leading AI infrastructure provider, has finalized a $9 billion all-stock acquisition of Bitcoin mining company Core Scientific in a landmark deal. This acquisition significantly strengthens CoreWeave's data center capacity, addressing the surging demand for artificial intelligence (AI) and high-performance computing (HPC) solutions. Under the agreement, Core Scientific shareholders will receive 0.1235 newly issued shares of CoreWeave Class A common stock for each share they hold, an exchange that values Core Scientific shares at $20.40 each—a 66% premium over their closing price in late June. The deal is expected to close in Q4 2025, at which time Core Scientific stockholders will collectively own less than 10% of the combined entity. The acquisition gives CoreWeave access to approximately 1.3 gigawatts of power capacity across Core Scientific’s data centers, with an additional 1 gigawatt allocated for future growth. In addition, CoreWeave projects the deal will generate over $10 billion in lease cost savings over 12 years, ensuring substantial long-term financial benefits. Although CoreWeave initially grew its business in cryptocurrency mining, the company now hints it may convert Core Scientific’s infrastructure for AI and HPC services, a move that aligns with broader industry trends. Alternatively, CoreWeave may divest the crypto mining division in the medium term. As part of this new transaction, a prior 12-year hosting agreement between the two companies has been terminated. This deal comes after Core Scientific notably rejected a lower $1 billion bid from CoreWeave in 2024.