Two Seas Capital, the largest shareholder of Core Scientific, plans to vote against the $9 billion buyout offer from CoreWeave, stating it undervalues the company. Core Scientific’s stock price dropped 30% post-announcement, indicating investor dissatisfaction. CoreWeave aims to expand by acquiring Core Scientific’s AI data centers to meet growing demand.

Core Scientific’s shares rose 3% after Two Seas Capital’s letter, while CoreWeave’s stock surged by 9%. CoreWeave had made multiple offers to buy Core Scientific, all rejected as too low. Talks stalled until June, when Core Scientific’s stock soared 23% before retracing in July. CoreWeave’s market cap exceeds $58.1 billion, while Core Scientific’s is over $4.3 billion.

Read more at Cointelegraph: Core Scientific’s Biggest Shareholder Says No to CoreWeave Takeover Bid