CoreWeave (CRWV) Makes $9 Billion Bet on Core Scientific to Power AI Growth
According to CoreWeave, the deal will allow the immediate elimination of more than $10 billion of cumulative future lease overhead to be paid for existing contractual sites over the next 12 years. The offer prices Core Scientific at $20.40 per share, reflecting a premium of around 66% to the stock's closing price before news related to deal talks surfaced in late June.
An image of a business executive with a handshake completing a deal.
Core Scientific stockholders will be receiving 0.1235 newly issued CoreWeave stock for each share they hold.
'This acquisition accelerates our strategy to deploy AI and HPC (high-performance computing) workloads at scale.' -CoreWeave CEO Michael Intrator.
CoreWeave, Inc. (NASDAQ:CRWV) is a cloud platform provider that provides equipment for AI and other computing purposes.
While we acknowledge the potential of CRWV as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
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