US-based cloud infrastructure company CoreWeave is set to acquire Core Scientific in an all-stock deal valued at approximately $9bn to enhance its data centre footprint.
The two companies signed the definitive agreement weeks after reports indicated that CoreWeave had resumed negotiations to acquire the data centre infrastructure provider.
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Under the terms of the agreement, Core Scientific stockholders will receive 0.1235 newly issued shares of CoreWeave Class A common stock for each share they hold. Upon completion, Core Scientific’s shareholders are anticipated to own under 10% of the combined company.
Core Scientific is known for its digital infrastructure services, particularly in high-density colocation and digital asset mining. It operates purpose-built facilities and offers infrastructure, software solutions, and services to third-party clients.
Through this deal, CoreWeave will control approximately 1.3GW of gross power across Core Scientific’s national data centre network, with prospects for over 1GW of additional expansion.
CoreWeave also anticipates realising substantial cost savings by streamlining operations and reducing lease overhead. The company plans to leverage infrastructure financing strategies to fund capital expenditures, thereby lowering its overall cost of capital.
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By GlobalDataAdditionally, the acquisition will provide CoreWeave greater control over critical power resources and options for future power capacity.
CoreWeave co-founder, CEO and chairman of the board Michael Intrator said: “This acquisition accelerates our strategy to deploy AI and HPC workloads at scale.
“Verticalising the ownership of Core Scientific’s high-performance data centre infrastructure enables CoreWeave to significantly enhance operating efficiency and de-risk our future expansion, solidifying our growth trajectory.
“Owning this foundational layer of our platform will enhance our performance and expertise as we continue helping customers unleash AI’s full potential.”
The transaction is expected to close in the fourth quarter of 2025, subject to customary closing conditions. This includes regulatory approval and consent from Core Scientific stockholders.
The agreement has already been approved by the board of directors of the two companies.
