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CoreWeave Announces $9 Billion All-Stock Takeover of Core Scientific

Bringing 1.3 GW of power capacity plus data center real estate in-house promises to slash $10 billion in lease obligations with closing set for late 2025 pending approvals.

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Overview

  • CoreWeave will exchange 0.1235 of its shares for each Core Scientific share in a $9 billion transaction that values the target at about $20.40 per share, a 66 percent premium.
  • The companies expect to complete the acquisition by the fourth quarter of 2025 once they secure regulatory clearances and shareholder votes.
  • CoreWeave forecasts elimination of roughly $10 billion in future lease obligations by internalizing its partner’s power and data-cooling infrastructure.
  • The takeover grants CoreWeave ownership of 1.3 gigawatts of on-site power capacity across U.S. facilities with an extra gigawatt available for future expansion.
  • Traders reacted skeptically, driving CoreWeave’s stock down about 4 percent and Core Scientific’s shares tumbling around 20 percent after the announcement.