CoreWeave announced Monday it has entered into an all-stock transaction valued at $9 billion to acquire data center infrastructure provider Core Scientific.
Through this acquisition, CoreWeave will significantly expand its data center footprint, gaining access to over one gigawatt of additional data center capacity—enough energy to power more than 850,000 households. The expanded infrastructure will primarily enable enhanced support for renting out facilities dedicated to artificial intelligence training and inference workloads.
Previously focused on Bitcoin mining, Core Scientific has shifted its business strategy and now utilizes its GPU resources to run and train generative AI models, aligning closely with CoreWeave’s current mission. The strategic deal underscores the growing demand among cloud infrastructure providers who are rapidly increasing their data center capabilities to cater to the expansive computational requirements from leading AI technology companies. In a similar development announced last week, OpenAI entered into an agreement with Oracle to lease an additional 4.5 gigawatts of data center capacity, extending their substantial infrastructure partnership known as “Stargate.”
