Latest news with #CoreScientific
Yahoo
14 hours ago
- Business
- Yahoo
CoreWeave resumes discussions to acquire Core Scientific
US-based AI cloud computing provider CoreWeave has resumed negotiations to acquire Core Scientific, Reuters reported, quoting a source familiar with the development. The move comes after the bitcoin mining and hosting provider turned down CoreWeave's previous proposal in 2024, stating that the offer undervalued the company. The resumption of talks was first reported by The Wall Street Journal, which resulted in a 33% increase in Core Scientific's share price. A conclusion to the discussions could be reached in the coming weeks, although specific terms of the potential deal remain undisclosed. However, Core Scientific did not respond to a request for comment from Reuters. CoreWeave also declined to respond to queries. Core Scientific, valued at approximately $5bn as of 27 June 2025 market close, specialises in owning and operating advanced digital infrastructure for bitcoin mining and hosting services. The company operates purpose-built facilities and provides digital asset mining infrastructure, software solutions, and services to third-party clients. In 2024, CoreWeave made an unsolicited non-binding offer to acquire all of Core Scientific's outstanding shares for $1.02bn, or $5.75 per share in cash. Core Scientific declined the offer, stating it did not reflect the company's value or align with shareholder interests. Despite the rejection, the two companies entered a series of 12-year agreements, including a contract for Core Scientific to supply approximately 200MW of infrastructure to support CoreWeave's high-performance computing services. CoreWeave supplies enterprises and AI labs with cloud solutions for enhanced computing capabilities. Among its clients is Microsoft, which accounted for 62% of CoreWeave's revenue in 2024. In March 2025, CoreWeave secured an $11.9bn agreement to provide AI infrastructure to OpenAI. The deal is intended to enhance OpenAI's compute capacity for training and deploying sophisticated AI models worldwide. "CoreWeave resumes discussions to acquire Core Scientific" was originally created and published by Verdict, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Erreur lors de la récupération des données Connectez-vous pour accéder à votre portefeuille Erreur lors de la récupération des données Erreur lors de la récupération des données Erreur lors de la récupération des données Erreur lors de la récupération des données
Yahoo
2 days ago
- Business
- Yahoo
CoreWeave Could Buy Core Scientific. How Should You Play CORZ Stock Here?
Core Scientific (CORZ) shares soared late on Thursday following a Wall Street Journal report that CoreWeave (CRWV) is once again interested in acquiring the AI infrastructure company. While top executives from both firms are already in advanced talks, financial terms of the potential agreement remain unknown, the report added. 3 Under-The-Radar Dividend Aristocrats Set to Breakout in Q3 Analysts: AMD Stock Will 'Close the Gap' With Nvidia by 2026. Should You Buy AMD Stock Here? The Saturday Spread: Data-Driven Trades That Cut Through the Noise (GILD, MCD, DJT) Get exclusive insights with the FREE Barchart Brief newsletter. Subscribe now for quick, incisive midday market analysis you won't find anywhere else. Including the recent rally, Core Scientific stock is up more than 160% versus its April low. CoreWeave's renewed interest in buying CORZ could prove a meaningful tailwind for the latter's investors since it validates its strategic pivot from crypto mining to AI infrastructure. A potential buyout could help Core Scientific could rposition it as a critical enabler in the generative artificial intelligence arms race. Moreover, takeover agreements often involve a significant premium. So, it's reasonable to believe that an agreement with CRWV will likely deliver immediate value to Core Scientific shareholders. That's what made CORZ shares soar more than 40% on Thursday. On the flip side, investors should note that neither company has so far confirmed reports of buyout discussions. For those sticking with Core Scientific stock at current levels, that's a huge risk given CORZ could give up its recent gains entirely if the WSJ report proved more rumor than reality in the days ahead. Additionally, since the AI stock has rallied some 40%, a strong enough case can be made that much of the anticipated benefit from a potential CoreWeave deal is baked into it already. Caution is warranted in buying CORZ shares also because the company's revenue crashed about 56% year-on-year to a weaker-than-expected $79.5 million in its latest reported quarter. Despite the aforementioned concerns, Wall Street remains bullish on Core Scientific stock, forecasting further upside in the second half of 2025. According to Barchart, the consensus rating on CORZ shares currently sits at 'Strong Buy' with the mean target of about $18 indicating potential for another 7% gain from current levels. On the date of publication, Wajeeh Khan did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
2 days ago
- Business
- Yahoo
Why CoreWeave Stock Plummeted This Week
CoreWeave saw a substantial valuation pullback this week, despite a bullish backdrop for AI stocks and the market at large. Investors sold out of the stock in response to analyst coverage and news that Nvidia is making a bigger push in cloud computing. Investors also appear to be concerned that CoreWeave could overpay to acquire Core Scientific. 10 stocks we like better than CoreWeave › Despite strong gains for the broader market, CoreWeave (NASDAQ: CRWV) stock closed out this week's trading down by double digits. The artificial intelligence (AI) specialist's share price fell 12.8% over the stretch. Meanwhile, the S&P 500 index rose 3.4%. CoreWeave stock lost ground this week following fresh analyst coverage and news that Nvidia (NASDAQ: NVDA) is making a bigger push in the cloud computing space. The company's valuation was also pressured by reports that a big acquisition move could be in the works. Before the market opened on Wednesday, H.C. Wainwright published its first rating on CoreWeave. The investment firm set a neutral rating on the tech specialist's stock, with analyst Kevin Dede raising some valuation concerns despite also acknowledging that CoreWeave had demonstrated its computing strengths. The Wall Street Journal also published a report on Wednesday stating that Nvidia plans to ramp up its own cloud-computing business. Nvidia's advanced graphics processing units (GPUs) have been the key hardware at the center of the AI data center revolution, but the tech leader is also in the relatively early stages of building its own AI-as-a-service (AIaaS) business. The company is a financial backer of CoreWeave, but some investors are worried that the tech giant could move in on the smaller player's turf. On Thursday, WSJ reported that CoreWeave is negotiating a deal to acquire Core Scientific (NASDAQ: CORZ). According to the report, a buyout could be finalized within weeks and is expected to assign a Core Scientific substantial valuation premium. Based on subsequent trading for CoreWeave, the reaction from investors appears to be mixed. Analysts are also split on what the buyout valuation might look like. Jeffries put forward a lower-end target, estimating that CoreWeave could pay between $16 per share and $23 per share to purchase Core Scientific. Cantor Fitzgerald put the potential buyout price at above $30 per share, and Roth Capital expects the company could pay as much as $38 per share in an all-stock deal. Given that CoreWeave tried to acquire Core Scientific at a price of $5.75 per share last year, some investors may be worried that the company is at risk of overpaying in the potential buyout. Before you buy stock in CoreWeave, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and CoreWeave wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $713,547!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $966,931!* Now, it's worth noting Stock Advisor's total average return is 1,062% — a market-crushing outperformance compared to 177% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of June 23, 2025 Keith Noonan has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Nvidia. The Motley Fool has a disclosure policy. Why CoreWeave Stock Plummeted This Week was originally published by The Motley Fool
Yahoo
2 days ago
- Business
- Yahoo
Core Scientific (CORZ) Surges 33% as CoreWeave Revives Acquisition Bid
Core Scientific, Inc. (NASDAQ:CORZ) is one of the . Core Scientific rallied for a third straight day on Thursday, jumping 33.01 percent to close at $16.36 apiece following the revival of CoreWeave Inc.'s (NASDAQ:CRWV) bid to acquire the company. According to a report by the Wall Street Journal, citing people privy to the matter, CoreWeave Inc. (NASDAQ:CRWV) revived talks to acquire Core Scientific, Inc. (NASDAQ:CORZ) after its first attempt in 2024 fell through due to pricing issues. Both companies have yet to confirm or deny the reports ,but the Journal said that a deal is expected to be finalized in the coming weeks. An aerial view of an intricate network of digital infrastructure, lit up against a night sky. CoreWeave Inc. (NASDAQ:CRWV) has been instrumental to Core Scientific, Inc.'s (NASDAQ:CORZ) growth trajectory, having exited from bankruptcy through pivoting aggressively into Artificial Intelligence infrastructure in January last year. At present, the company is worth $5 billion in market capitalization. While we acknowledge the potential of CORZ as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
2 days ago
- Business
- Yahoo
Jefferies sees potential Core Scientific takeout value range of $16-$23
After The Wall Street Journal reported that CoreWeave (CRWV) is in talks to acquire Core Scientific (CORZ), Jefferies analyst Jonathan Petersen contends that the combination of the two 'makes strategic sense' as it would allow CoreWeave to vertically integrate its infrastructure, reduce operating expense and use the Core Scientific platform to grow its data center development pipeline. The firm, which estimates a potential takeout value range of $16-$23, has a Buy rating and $16 price target on Core Scientific shares and a Buy rating and $180 price target on CoreWeave. Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>> See the top stocks recommended by analysts >> Read More on CORZ: Disclaimer & DisclosureReport an Issue Core Scientific could get north of $30/share in buyout, says Cantor Fitzgerald JPMorgan continues to recommend Riot after Core Scientific report Strategic Acquisition and Capacity Expansion Drive Buy Rating for Core Scientific Inc. M&A News: CoreWeave (CRWV) Is Reportedly in Talks to Acquire Core Scientific Closing Bell Movers: Nike gains 10% on more positive earnings call
