July 7, 2025:
CoreWeave Acquires Core Scientific for $9B - CoreWeave acquired data center builder Core Scientific for $9 billion in stock, following rumors. Despite both companies experiencing a decline in shares, CoreWeave intends to optimize Core Scientific's facilities for AI workloads. Core Scientific, known for its cryptocurrency mining data centers, has emerged from bankruptcy with plans to repurpose its infrastructure.
CoreWeave aims to enhance its AI-optimized public cloud using Core Scientific's capacity, anticipating annual savings of $500 million through improved operational efficiency. This involves adapting the acquired infrastructure away from cryptocurrency mining to focus on AI, aligning with CoreWeave's strategic objectives.
