Short
CoreWeave is set to acquire data center provider Core Scientific in a share swap deal worth about $9 billion. The transaction is expected to close in the fourth quarter of 2025. Core Scientific adds 1.3 gigawatts of existing power capacity, plus more than 1 gigawatt of expansion potential.
CoreWeave, which calls itself an "AI hyperscaler," specializes in cloud infrastructure for compute-intensive AI workloads. By owning its own data centers, the company aims to lower costs and reduce dependence on outside providers as competition heats up in the AI infrastructure market. In March, OpenAI invested $12 billion in CoreWeave. CoreWeave has also reportedly benefited from Microsoft scaling back its own AI data center investments.
