CoreWeave Stockholders to Vote on Core Scientific Merger

Bassyonni

ago 5 hours

CoreWeave Stockholders to Vote on Core Scientific Merger

CoreWeave (CRWV) has announced the termination of its proposed acquisition of Core Scientific (CORZ) following a rejection from its shareholders. The all-stock merger offer failed to gain the necessary approval during a shareholder meeting held on Thursday morning. In response, CoreWeave stated, “As a result, the Agreement has been terminated.”

Merger Details and Stock Performance

The merger was initially valued at approximately $9 billion. However, CoreWeave’s stock has seen a decline since the announcement of the deal back in June. Following the merger termination, CoreWeave stock dropped by 5.6%, trading at $132.11, while Core Scientific’s stock rose by 3.5%, reaching $21.50.

CoreWeave stock has increased by 135% in 2025.
Core Scientific stock has risen by 46% during the same period.

Upcoming Financial Reports

CoreWeave is expected to release its third-quarter earnings on November 10. The company launched its initial public offering in late March.

Industry Context

Both CoreWeave and Core Scientific are recognized as part of a growing group of artificial intelligence “neoclouds,” which includes other companies like Nebius (NBIS), Lambda, and Nscale. These neoclouds specialize in constructing data centers specifically designed for processing AI workloads.

CoreWeave’s clientele features prominent companies such as OpenAI, Microsoft (MSFT), and Meta Platforms (META).
The company operates 33 data centers across the U.S. and Europe.
CoreWeave has preferred access to Nvidia’s graphic processing units, optimizing its cloud offerings for AI tasks.

Market Challenges

While the potential for growth in the AI market is promising, some analysts have expressed concerns regarding CoreWeave’s customer concentration and elevated debt levels. The company currently holds a Composite Rating of 68 out of a possible 99, reflecting its fundamental and technical metrics.

Additionally, CoreWeave’s Accumulation/Distribution Rating stands at B-plus, which analyzes the price and volume changes over the past 13 weeks of trading, indicating a moderate level of institutional buying.

Founded as a cryptocurrency miner in 2017, CoreWeave has since transitioned into cloud computing services, positioning itself as a key player in the AI sector.