The stock closed up 6.2% on the news. CoreWeave has been seeing scorching-hot growth since it pivoted its business model to AI infrastructure, providing computing capacity to companies like Microsoft, Nvidia, and OpenAI, and it needs new data centers to fuel that growth.

CoreWeave Inc.’s $9 billion acquisition of Core Scientific Inc. has thrown investors holding the smaller company’s convertible bonds for a loop.

CoreWeave and Core Scientific are both down sharply since agreeing to merge.

CoreWeave will buy crypto miner Core Scientific in an all-stock deal valued at about $9 billion, it said on Monday, as AI infrastructure firms race to secure the energy and data center capacity needed to power surging demand.

CoreWeave Inc.’s blistering rally has lost steam as the artificial intelligence infrastructure play faces a growing tangle of bearish catalysts that threaten to further unravel its meteoric rise.

By spotlighting this project at a White House?backed summit, CoreWeave is cementing Pennsylvania's place as a hub for AI infrastructure and sparking fresh interest in regional economic development.

CoreWeave CEO Mike Intrator discusses their acquisition of Core Scientific, their $6 billion investment in a data center in Lancaster, Pennsylvania, the demand for artificial intelligence and more on 'Mornings with Maria.

CoreWeave's acquisition of Core Scientific aims to verticalize data center ownership and cut $500 million in costs by 2027. Read why CRWV stock is a Buy.