CoreWeave acquires Core Scientific
The transaction is valued at approximately $9 billion
CoreWeave announced that it has signed an agreement to acquire Core Scientific, a data center infrastructure provider, in an all-stock transaction valued at approximately $9 billion.
Through this acquisition, CoreWeave will gain access to over 1.3 gigawatts of data center power capacity—enough energy to power more than 850,000 homes—which it can lease out for AI training and inference workloads. Like CoreWeave, Core Scientific previously offered Bitcoin mining services, but its GPUs will now be used to run and train generative AI models.
Cloud infrastructure providers are competing to expand their data center footprints to meet the ever-growing computational demands of AI companies. According to a Bloomberg report, OpenAI recently signed a deal with Oracle to lease an additional 4.5 gigawatts of data center capacity, expanding their already massive Stargate infrastructure collaboration.
The CoreWeave-Core Scientific deal is expected to close in the fourth quarter of 2025, pending regulatory approvals and shareholder consent. With this acquisition, CoreWeave will eliminate the rental costs it previously paid to Core Scientific for several data center sites, while improving operational efficiency and reducing risks associated with future expansion.
