CoreWeave Acquires Core Scientific in All-Stock Deal

AI infrastructure firm CoreWeave has agreed to acquire bitcoin miner Core Scientific in an all-stock deal worth around $20.40 per share, expected to close in Q4 2025. Core Scientific shares dropped 22%, while CoreWeave shares fell by 3.3%. Jefferies analysts see the move as strategic for CoreWeave to vertically integrate its infrastructure.

The deal highlights the trend of consolidation in AI infrastructure and high-performance computing, with CoreWeave poised to become a full-stack infrastructure operator. Acquiring Core Scientific’s data center capacity will allow CoreWeave to expand its owned infrastructure and control future capacity expansion.

Jefferies maintains a buy rating on Core Scientific shares with an $18 price target. The acquisition positions CoreWeave to reduce reliance on long-term leases and third-party developers, providing greater control over data center assets. This move is crucial as demand from AI firms and cloud-native enterprises continues to rise.

Read more at Yahoo Finance: Core Scientific, Bitcoin Miners Tumble on CoreWeave Buyout; Jefferies Says Price in Expected Range