In a recent interview with CNBC, CoreWeave (NASDAQ: CRWV) CEO Michael Intrator acknowledged Oracle Corporation (NYSE: ORCL) as a strong rival in the artificial intelligence infrastructure sector.
CoreWeave's acquisition of Core Scientific is a strategic move to vertically integrate its power supply, creating a powerful competitive advantage in AI.
CoreWeave will acquire Core Scientific in an all-stock deal valued at nearly $9 billion, which it says will boost its AI infrastructure, eliminate $10 billion in lease costs, and generate $500 million in annual savings by 2027.
CoreWeave (NASDAQ: CRWV), the AI Hyperscaler™, and Core Scientific (NASDAQ: CORZ), a leading data center infrastructure provider, today announced that they have signed a definitive agreement under which CoreWeave will acquire Core Scientific in an all-stock transaction. Under the terms of the merger agreement, Core Scientific stockholders will receive 0.1235 newly issued shares of CoreWeave Class A common stock for each share of Core Scientific common stock based on a fixed exchange ratio. Following CoreWeave’s successful IPO in March 2025, this acquisition will help CoreWeave verticalize its data center footprint to future-proof revenue growth and enhance profitability. Through this acquisition, CoreWeave will own approximately 1.3 GW of gross power across Core Scientific's national data center footprint1 with an incremental 1 GW+ of potential gross power available for expansion.
Shares of CoreWeave Inc. (NASDAQ: CRWV) traded higher on Thursday with gains accelerating into the close. The company announced it became the first AI cloud provider to deploy NVIDIA Corp's (NASDAQ:NVDA) new GB300 NVL72 platform.
