CoreWeave (CRWV) places a $9 billion bet on core scientific on AI growth
CoreWeave, Inc. (NASDAQ:crops) is one of Ten AI stock investors watch this week. On July 7, CoreWeave announced it would purchase Crypto Miner Core Scientific on a massive deal of approximately $9 billion. The contract comes as AI infrastructure companies race to ensure the energy and data center capabilities needed to power burgeoning demand.
According to CoreWeave, the agreement will immediately eliminate cumulative future lease overhead of over $10 billion for existing contract sites over the next 12 years. The offer price is $20.40 per share, and is scientifically scientific.
Image of a business executive with a handshake completed a transaction.
Core Science shareholders receive a newly issued CoreWeave shares of 0.1235 for each share they hold.
“This acquisition accelerates our strategy for deploying AI and HPC (high-performance computing) workloads at scale.” -CoreWeave CEO Michael Intrator.
CoreWeave, Inc. (NASDAQ: CRWV) is a cloud platform provider that provides equipment for AI and other computing purposes.
While acknowledging the potential of CRWV as an investment, we believe certain AI stocks offer greater promotion potential and pose a risk of decline. If you’re looking for a highly undervalued AI stock that can make a significant profit from the tariff and supervision trends of the Trump era, check out our free report. Best Short-Term AI Stocks.
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Disclosure: None.