Compute · the Ledger · Acquisition
CoreWeave agrees to acquire Core Scientific in an all-stock deal; Core Scientific holders vote it down and the merger is terminated
Terminated · announced 7 Jul 2025 · the week to 11 Jul 2025
- Size
- $9B
- Power
- 1.3 GW
Implied total equity value of approximately $9.0B as of July 3, 2025 (0.1235 CRWV shares per CORZ share, fully diluted, CoreWeave 5-day VWAP).
The parties
- CoreWeavecompany pageAcquirer
- Core Scientificcompany pageBeing acquired
The source
CoreWeave 8-K Ex. 99.1, 2025-07-07Regulatory filing
Would have given CoreWeave ~1.3 GW of gross power (~840 MW supporting CoreWeave HPC contracts, ~500 MW crypto mining) and eliminated >$10B of future lease payments over 12 years. Core Scientific stockholders did not approve it at the 2025-10-30 special meeting; Core Scientific terminated the merger agreement that day (CoreWeave 8-K 2025-10-31). Core Scientific had rejected an earlier unsolicited CoreWeave proposal in June 2024.
The same parties, other deals
- AMD leases 377 MW from Core Scientific for 15 years and backs 152 MW of neocloud leases, with rights to ~1.9 GW moreundisclosed · 28 Jul 2026
- Jane Street commits ~$6B to CoreWeave's AI cloud and buys $1B of CoreWeave stock at $109.00$6B · 15 Apr 2026
- Meta signs a new CoreWeave order form; Meta's initial commitment is ~$21B through December 20, 2032$21B · 9 Apr 2026
- CoreWeave closes $8.5B DDTL 4.0, rated A3/A (low), to finance GPU servers for a customer contract$8.5B · 31 Mar 2026
- Nvidia buys $2B of CoreWeave Class A stock at $87.20 per share; companies sign a 5 GW buildout framework$2B · 26 Jan 2026
- Meta commits up to ~$14.2B through December 14, 2031 for CoreWeave cloud capacity$14.2B · 30 Sept 2025