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Coreweave, a growing player in artificial intelligence industry, concluded a definitive agreement to obtain Bitcoin Mining company Core scientific In a transaction with All-Stock, according to July 7 notification.
This strategic step would help Coreweave to strengthen its data center and expand the AI infrastructure and high -performance computers (HPC).
Terms of Agreement
According to the terms of the agreement, the basic scientific shareholders will receive 0.1235 newly issued shares of the Coreweave Class Class.
This agreement reflects the total capital value of approximately $ 9 billion on a fully diluted basis and is based on the five -day average price (VWAP) from the five -day volume of Coreweave.
The transaction is expected to close in the fourth quarter of 2025, which are waiting for regulatory approval.
If it is completed, the agreement will decrease Coreweave’s long -term rental More than $ 10 billion and open the door to more flexible financing. However, the main scientific shareholders are expected to have less than 10% of the combined entity.
After the acquisition, Coreweave will control roughly 1.3 gigawatts (GW) of gross power capacity across the national Core Scientific data center and another 1 GW is available for future extensions.
This step allows Coreweave vertically integrating key infrastructure assets and better support its Increasing demand for workload AI.
Coreweave, CEO Michael Intrator, said the acquisition is in line with the strategy of the AI deployment strategy. He stressed that ownership High -performance Core Scientific Infrastructure It will reduce expansion risks, increase the efficiency of the platform and ensure long -term growth.
Meanwhile Adam Sullivan, President and CEO of Core Scientific, said
“Together with Coreweave, we will argue well to speed up the availability of first -class infrastructure for innovating AI companies and at the same time to provide the greatest value to our shareholders who will be able to participate in the enormous ascending potential of a combined company.”
Legal inspection
Despite the strategic justification of the transaction, the market reaction to the agreement was negative.
According to Google Finance, basic scientific shares fell by almost 17%, while Coreweave’s shares dropped around 3%during the first business hours of July.
Experts in the field were concerned about the fairness of the agreement and the long -term impact on the value of shareholders.
Contributes to uncertainty, the law firm Brodsky & Smith has launched Investigations of potential violations of the trust of the Core Scientific Board. The aim of the probe is to find out whether the Board of Directors has not provided the real value for shareholders and reasonably evaluated the conditions of sale.
