Nvidia-backed cloud-computing provider CoreWeave has signed a definitive agreement to acquire bitcoin-miner-turned-data-center operator Core Scientific in an all-stock transaction valued at about $9 billion. Core Scientific shareholders will receive 0.1235 CoreWeave shares for each share they own, equivalent to $20.40 a share based on CoreWeave’s five-day volume-weighted average price to 3 July—about 66 percent above Core Scientific’s closing price before talks became public on 25 June. The takeover gives CoreWeave ownership of Core Scientific’s 1.3 gigawatts of contracted power across 11 U.S. sites, with rights to add more than 1 GW for future expansion. CoreWeave said the move will eliminate over $10 billion in lease obligations, generate roughly $500 million in annual run-rate savings by 2027 and accelerate deployment of artificial-intelligence and high-performance-computing workloads. Chief Executive Officer Michael Intrator called the vertical integration critical to "de-risking" the company’s expansion plans, while Core Scientific CEO Adam Sullivan said the deal lets shareholders participate in the combined firm’s growth. Both boards have unanimously approved the transaction, which is expected to close in the fourth quarter of 2025 subject to regulatory and shareholder approvals. Goldman Sachs is advising CoreWeave, with Moelis and PJT Partners counseling Core Scientific. Shares of Core Scientific fell about 17 percent and CoreWeave slid roughly 4 percent after the announcement, as investors weighed the all-stock structure and integration risks.