CoreWeave Gains Control of 1.3GW Power Capacity with $9B Core Scientific Deal

CoreWeave, a fast-growing cloud company focused on AI, is acquiring Core Scientific in an all-stock deal valued at around $9 billion. The two companies have worked together for years, and this move will bring Core Scientific’s data center infrastructure directly under CoreWeave’s control. The deal is expected to close by the end of 2025, pending approvals.

Through the acquisition, CoreWeave will gain access to about 1.3 gigawatts of power capacity—most of which it already uses through leases. By owning this infrastructure outright, the company expects to eliminate more than $10 billion in future lease costs. This gives CoreWeave more flexibility and efficiency as it continues to grow in the AI and high-performance computing space.

The combined company expects to save around $500 million a year by 2027. More importantly, it strengthens CoreWeave’s position as a major player in powering the next generation of AI applications, with greater control over the energy and infrastructure behind it.

Source:

Barron's

A.M.