CoreWeave acquires Core scientific for $9 Billion
CoreWeave, a Nasdaq-listed AI and cloud solutions firm, has acquired Core Scientific, a leading crypto mining data center, for about $9 billion. This move aims to boost its AI and computing capabilities.
On july 7, 2025, CoreWeave announced the all-stock deal. The acquisition will give coreweave access to Core Scientific’s advanced infrastructure. This is a meaningful step in CoreWeave’s growth strategy.
This isn’t CoreWeave’s first attempt.In june 2024, a $1 billion offer was rejected.Now,the deal is set to close in Q4,pending approvals. CoreWeave will give core Scientific shareholders 0.1235 of its shares for each Core Scientific stock. The deal will integrate Core Scientific’s data centers into CoreWeave’s operations. It’s a strategic move to enhance its AI and high-performance computing services.
Michael Intrator, CoreWeave’s CEO, sees this as a game-changer. He believes it will improve efficiency and reduce risks for future expansion. The combined company will have more power capacity and financial flexibility. It will also cut future lease costs by over $10 billion in the next decade. The deal includes 1.3 gigawatts of power capacity. this will support its AI and cloud solutions.
Adam Sullivan, Core Scientific’s CEO, highlighted their partnership. He said,”CoreWeave has seen our value. They understand the benefits of our services.”
CoreWeave plans to use Core Scientific’s resources. This will help them deliver better AI solutions. The deal will also cut costs and boost performance. CoreWeave will own the data centers, ensuring better control and growth.The acquisition will bring core Scientific’s expertise to CoreWeave. It will help them deliver top-notch AI services. The deal will make CoreWeave stronger in the market. It will also give them a solid foundation for AI innovation.
CoreWeave and Core Scientific have worked together before. they expanded in Texas with a $1.2 billion project. The acquisition will bring in new opportunities.
