CoreWeave acquires data center provider Core Scientific in $9B stock deal

CoreWeave has agreed to acquire Core Scientific, a data center infrastructure provider, in a $9 billion all-stock transaction. This acquisition will significantly expand CoreWeave’s data center capacity by more than one gigawatt, enabling the company to offer substantial resources for AI training and inference workloads. Both companies have histories in Bitcoin mining, but the focus is now shifting toward utilizing GPUs for running and training generative AI models. The deal highlights the ongoing race among cloud infrastructure providers to scale their data center capabilities to meet the growing computational demands of AI companies. This move follows other large-scale expansions in the industry, such as Oracle’s recent agreement to provide an additional 4.5 gigawatts of data center capacity, further emphasizing the critical importance of infrastructure growth in supporting AI development.