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- CoreWeave, Core Scientific shares sink after companies confirm $9 billion deal amid AI datacenter boom</p>
<p>Jake ConleyJuly 7, 2025 at 9:23 PM</p>
<p>AI cloud computing giant CoreWeave (CRWV) said Monday it would acquire data center provider Core Scientific (CORZ) in an all-stock transaction valued at $9 billion.</p>
<p>The deal will see Core Scientific investors granted 0.1235 shares of CoreWeave for each share of Core Scientific.</p>
<p>Shares of both companies fell sharply following the announcement, with CoreWeave stock falling 4.5% and Core Scientific shares dropping as much as 20%. Core Scientific shares had gained about 50% since The Wall Street Journal first reported a deal was in the works in late June.</p>
<p>The deal, which is set to be completed in Q4, will expand CoreWeave's capabilities to support large-scale AI development by bringing in a potential two gigawatts or more of power capacity in-house through Core Scientific's nation-wide data center infrastructure, the company said in a release.</p>
<p>CoreWeave added the move will expand its vertical expansion across the AI supply chain, adding energy infrastructure that provides runway for the significant power demands of AI cloud computing technology.</p>
<p>"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," CoreWeave CEO and chairman Michael Intrator said in a release.</p>
<p>The deal is also set to eliminate $10 billion or more in future overhead from leasing costs for sites CoreWeave currently contracts from Core Scientific while bringing in approximately $1.6 billion in assets, CoreWeave said in an investor presentation outline deal specifics. CoreWeave predicts the deal will be leverage-neutral for its balance sheet.</p>
<p>CoreWeave went public earlier this year in one of the year's highest-profile IPOs, marking a rebound for new deals defined by some of the biggest companies going public garnering the most support from investors. The company now sports a market cap north of $75 billion; the company was valued at closer to $20 billion in its last private fundraising round.</p>
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