Overview

• Core Scientific shareholders will receive 0.1235 CoreWeave shares per share, valuing the target at $20.40 each, a roughly 66% premium to pre-talks prices.
• The deal secures 1.3 gigawatts of existing power capacity and another gigawatt for future growth, eliminating more than $10 billion in planned lease costs.
• Shares of CoreWeave fell about 4.5% and Core Scientific dropped as much as 20% on the announcement as investors weighed dilution and the premium.
• Both companies began as cryptocurrency miners before pivoting to AI and high-performance computing services, leveraging their energy-intensive sites for new demand.
• The transaction, slated to close in Q4 2025 pending regulatory and shareholder approvals, is supported by Nvidia’s strategic stake in CoreWeave.