The U.S.-based artificial intelligence firm CoreWeave recently announced plans to acquire Core Scientific in an all-stock transaction valued at approximately $9 billion. Following the announcement, CoreWeave’s stock dipped by 3% amid concerns about dilution, while Core Scientific shares tumbled 18%, trading significantly below the deal price.
CoreWeave’s $9B Acquisition Deal
Under the deal, each Core Scientific shareholder will receive 0.1235 newly issued CoreWeave shares. The move will be executed given that the purchasing company values the other at roughly $20.40 per share, which represents a 66% premium over recent trading prices. The acquisition deal will be closed between October and December 2025, pending regulatory and shareholder approval.
Interestingly, the merger will give CoreWeave ownership of approximately 1.3 gigawatts of power infrastructure across Core Scientific’s data centers. The move ensures the company can scale AI and HPC services without dependency on third-party facilities. Additionally, securing the power footprint provides more options for future expansion and diversification.
The AI firm looks forward to eliminating over $10 billion in future lease liabilities by converting lease agreements into owned assets. It believes the move will help the company convert long-term rental expenses into asset ownership, thereby improving profitability. It also expects to generate approximately $500 million in annual cost savings by 2027.
Commenting on the deal, CoreWeave’s Chief Executive Officer, Michael Intrator, said:
“This acquisition accelerates our strategy to deploy AI and HPC workloads at scale, verticalizing the ownership of Core Scientific’s high-performance data center infrastructure enables CoreWeave to significantly enhance operating efficiency and de-risk our future expansion, solidifying our growth trajectory.”
Is AI Sector Taking Over?
The artificial intelligence sector is undeniably outpacing the crypto industry in terms of investor interest, adoption, and infrastructure development. Bitcoin miners are now exploring AI infrastructure or converting mining sites into AI data centers. Given the surge, studies show that AI data centers are now consuming more electricity than BTC miners, as reported by CTW.
Meanwhile, other firms do not care about what the trend points to. Recently, German firm Deutsche Telekom entered the Bitcoin mining sector via a pilot project powered entirely by surplus renewable energy. Notably, Bitcoin mining continues to play a vital role in securing the core purpose of crypto as it fosters decentralized consensus and aids the digitalization of money.
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