NEW YORK, NY – CoreWeave, a dominant force in AI computing, is taking direct control of its power supply. In a blockbuster all-stock deal announced today, the company will acquire data center giant Core Scientific, securing the massive energy and infrastructure needed to fuel the global AI boom.
This is a power play in every sense of the word. The acquisition gives CoreWeave ownership of a staggering 1.3 gigawatts of data center power—with another gigawatt-plus ready for future development.
For CoreWeave, which recently celebrated a successful IPO, the move is a strategic masterstroke. Here’s why it’s great news:
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Fuel for the Future: AI runs on power. By owning its data centers, CoreWeave guarantees it has the juice to grow.
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Smarter and Faster: The deal cuts costs by eliminating leases and streamlines operations, allowing the company to move faster and more efficiently.
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Unlocking Value: The merger combines the best of both worlds—CoreWeave’s AI expertise and Core Scientific’s infrastructure-building muscle.
“We are accelerating our strategy to lead in AI and high-performance computing,” said CoreWeave CEO Michael Intrator. “Owning our infrastructure de-risks our future and solidifies our growth. This is about building a stronger foundation to help our customers win.”
Core Scientific CEO Adam Sullivan called the merger a win for everyone. “CoreWeave knows our operational excellence firsthand. Together, we’re poised to accelerate world-class infrastructure for AI innovators and deliver tremendous value to our shareholders, who will now be part of this incredible growth story.”
