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

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’s CEO said the acquisition will enhance the company’s performance and expertise as they "continue helping customers unleash AI’s full potential."

After weeks of speculation and media coverage, CoreWeave (NASDAQ: CRWV), the AI hyperscale, and Core Scientific (NASDAQ: CORZ), a data center infrastructure provider, today announced they have .... - Read more from Inside HPC & AI News.

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.