In brief
- AI hyperscaling company CoreWeave has said it will buy data center giant Core Scientific.
- The $9 billion deal is expected to be completed by the end of the year.
- The deal will give CoreWeave 1.3 gigawatts of gross power across Core Scientific’s national data center footprint.
AI infrastructure firm CoreWeave has signed an agreement to buy data center provider and Bitcoin miner Core Scientific in an all stock deal valued at around $9 billion, the company announced Monday.
The deal will give CoreWeave 1.3 gigawatts of gross power across Core Scientific’s national data center footprint, with the potential to expand gradually with another 1 GW, a statement said.
Roseland, New Jersey-based CoreWeave’s CEO Michael Intrator said the deal would help “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,” he added.
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Author: Mathew Di Salvo
