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CoreWeave Holds Firm on $9B Core Scientific Bid Amid Shareholder Dissent
CoreWeave Holds Firm on $9B Core Scientific Bid Amid Shareholder Dissent
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BTCCSquare news:
CoreWeave CEO Michael Intrator reaffirmed the company's $9 billion acquisition offer for Core Scientific, dismissing shareholder claims of undervaluation. The all-stock deal WOULD exchange 0.1235 CoreWeave shares for each CORZ share, a ratio some investors argue fails to reflect Core Scientific's potential $25/share valuation.
Dissenting shareholders, including prominent hedge funds, threaten to block the October 30 vote unless terms improve. The standoff highlights growing tensions between AI infrastructure valuations and crypto-mining asset assessments, with Core Scientific's Bitcoin mining operations potentially being revalued against CoreWeave's GPU cloud services.
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