CoreWeave’s proposed $9 billion all-stock acquisition of data-centre operator Core Scientific is facing growing resistance from several hedge funds and other large Core Scientific shareholders, according to the Financial Times and Reuters. The investors argue that the terms significantly undervalue Core Scientific after a 30% slide in CoreWeave’s share price since the transaction was unveiled in July. Because the deal is structured entirely in stock, the decline has cut the implied price for Core Scientific to a little over $13 a share, down from about $20.25 at announcement. Dissenting shareholders say they may vote against the merger unless CoreWeave improves the exchange ratio or provides downside protection. The companies have not publicly commented on the pushback. A shareholder vote at Core Scientific has yet to be scheduled but is expected later this autumn. The transaction would combine two fast-growing providers of AI-focused data-centre capacity at a time of surging demand for Nvidia-powered infrastructure.