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Core Scientific Stock Gains 5% After $9B CoreWeave Merger Rejected
The widely-panned takeover attempt failed a shareholder vote on Thursday.
Updated Oct 30, 2025, 3:46 p.m. Published Oct 30, 2025, 3:34 p.m.
What to know:
- The vote ends CoreWeave’s bid to acquire Core Scientific, which would have reduced its leasing costs and expanded AI data center capacity.
- Core Scientific investors, including Two Seas Capital, argued the all-stock offer lacked downside protection and undervalued future growth.
- Following the vote, CoreWeave’s stock dropped about 5%, while Core Scientific’s shares climbed roughly 6% as investors backed its independent growth path.
Core Scientific (CORZ) shareholders have rejected a proposed $9 billion all-stock merger with CoreWeave (CRWV), halting one of the most anticipated deals in the AI data center sector.
CORZ is higher by 4.5% on the news, while CRWV added modestly to earlier losses, now down 5% for the session.
STORY CONTINUES BELOW
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The quick vote followed recommendations from proxy advisers and as well as at least one sizable CORZ investor to oppose the transaction, which many investors said undervalued the company's long-term potential and offered no protection against CoreWeave’s volatile stock.
The vote prompted Core Scientific to formally terminate the merger agreement, ending CoreWeave’s plan to secure more data center capacity and reduce roughly $10 billion in future leasing costs.
AI Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.
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