CoreWeave, Inc. (NASDAQ:CRWV) is one of the 10 AI Stocks Investors Are Watching This Week. On July 7, CoreWeave announced that it will buy crypto miner Core Scientific in an all-stock deal valued at about $9 billion. The deal comes amid AI infrastructure firms racing to secure the energy and data center capacity needed for powering burgeoning demand.
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. is a cloud platform provider that provides equipment for AI and other computing purposes.
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