CoreWeave Acquires Core Scientific in $9B All-Stock Deal to Expand AI Infrastructure

CoreWeave, a rising leader in AI infrastructure, has announced a $9 billion all-stock acquisition of Core Scientific. The deal, expected to close in Q4 2024 pending approvals, grants Core Scientific shareholders 0.1235 CoreWeave shares per share—a 66% premium over Core Scientific's unaffected June 25 price.

The acquisition accelerates CoreWeave's expansion into high-performance computing (HPC) with 1.3 GW of data center capacity, including 840 MW already powering AI workloads and 500 MW dedicated to crypto mining. Core Scientific's footprint also includes over 1 GW of potential expansion capacity.

"This accelerates our strategy to deploy AI and HPC workloads at scale," said CoreWeave CEO Michael Intrator. Post-close, Core Scientific shareholders will own less than 10% of the combined entity. The MOVE follows CoreWeave's March 2025 IPO, marking its aggressive push into next-gen computing infrastructure.