CoreWeave Inc. said it has agreed to buy Core Scientific Inc. in an all-stock deal worth about $9 billion that will allow it to expand its artificial intelligence data center capacity. The transaction values Core Scientific’s stock at $20.40 per share, according to a statement from CoreWeave on Monday. That represents a 66% premium over the closing price on June 25, the trading day before the Wall Street Journal reported that the two companies were in advanced talks. The deal is expected to close in the fourth quarter of 2025, according to the statement, pending regulatory approvals. Once the transaction is completed, CoreWeave expects Core Scientific’s stockholders’ ownership of the combined company will be less than 10%, the statement said. “This acquisition accelerates our strategy to deploy AI and HPC workloads at scale,” said Michael Intrator, CoreWeave’s chief executive officer, using an acronym for the phrase high-powered computing. Shares of CoreWeave fell 4.4% in premarket trading in New York. Core Scientific’s stock tumbled 14%. Core Scientific is among the Bitcoin miners trying to take advantage of a shortage in data center space and large amounts of power amid the AI boom to expand beyond crypto. CoreWeave made an earlier advance last year, when it offered to buy Core Scientific for about $1 billion.

Full report : CoreWeave says it has agreed to acquire bitcoin miner Core Scientific in $9 billion plus all-stock deal, set to close in Q4 2025, to expand its AI data center capacity.