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

CoreWeave announced Monday that it signed a $9 billion all-stock deal to acquire Core Scientific, a data center infrastructure provider.

As a result of the deal, CoreWeave says it will gain access to more than a gigawatt of data center capacity — enough energy to power more than 850,000 homes — that it can rent out for AI training and inference workloads. Much like CoreWeave, Core Scientific previously offered Bitcoin mining services, but now its GPUs will run and train generative AI models.

Cloud infrastructure providers are racing to grow their data center footprint to keep up with the seemingly never-ending computational demands of AI companies. Bloomberg reported last week that OpenAI struck a deal to rent an additional 4.5 gigawatts worth of data center capacity from Oracle, expanding on the two companies’ already massive Stargate infrastructure deal.