TL;DR
- Core Scientific jumped as much as 32% following reports of a possible acquisition by CoreWeave, which aims to expand its AI infrastructure.
- CoreWeave had offered $5.75 per share in 2024, but Core Scientific rejected the bid. Today, its stock price has climbed past $16, pushing its market capitalization to $4.4 billion.
- Since March, CoreWeave’s shares have soared 350%, and this acquisition would mark its first major corporate deal since going public.
On Thursday, Core Scientific posted one of its biggest intraday gains in over a year, driven by reports of renewed talks with CoreWeave for a potential takeover.
According to a report, both companies resumed advanced discussions and could finalize a deal in the coming weeks if no issues arise. The exact terms of the agreement remain unknown for now, but the market is already reacting to the prospect of a transaction that could reshape the digital infrastructure landscape in the United States.
Core Scientific’s Explosive Growth
CoreWeave, a company specializing in cloud infrastructure for artificial intelligence, had previously attempted to acquire Core Scientific in 2024 with a $5.75-per-share offer, valuing the company at just over $1 billion. Core Scientific rejected the proposal as too low and has since doubled its market value. This Thursday, its shares hit $16.18, their highest intraday level since June 2024, lifting its market capitalization to around $4.4 billion.
Although the acquisition didn’t happen at the time, the two companies established a long-term operational relationship. In June 2024, they signed 12-year contracts for 200 megawatts of hosting capacity for CoreWeave, securing multi-billion-dollar revenue streams for Core Scientific and reinforcing its role as a key infrastructure provider for bitcoin mining and high-performance computing.
CoreWeave Up 350% Since March
Since its public debut in March 2025, CoreWeave’s stock has surged nearly 350%, fueled by intense investor demand for companies tied to AI infrastructure. Acquiring Core Scientific would not only enhance its operational capabilities but also give it access to the high-energy infrastructure needed to support specialized data centers.
If the deal moves forward, it would be CoreWeave’s first large-scale corporate transaction since going public. For now, both companies declined to comment on the ongoing talks, though market interest signals that a resolution could arrive soon
