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How Victoria’s Secret’s Les Wexner Made $2 Billion In 3 Months From AI Giant CoreWeave
UNITED STATES, JUL 7 – CoreWeave will own 1.3 gigawatts of data center power after acquiring Core Scientific, aiming to reduce lease costs and scale AI and high-performance computing workloads efficiently.
- On Monday, CoreWeave announced a $9 billion all-stock acquisition of Core Scientific, set to close in Q4 2025.
- Driven by the need to vertically integrate into AI and HPC, CoreWeave gains 1.3 GW capacity and eliminates over $10 billion in lease obligations with $500 million annual savings by 2027.
- Following the deal, CoreWeave shares declined 3.33%, with analysts Roy and Moskowitz downgrading ratings but raising targets to $115 and $150 respectively.
- The acquisition grants ownership of 1.3 GW across Core Scientific’s U.S. data centers, plus over 1 GW for future growth, boosting its AI competitiveness.
- Bernstein analyst Gautam Chhugani highlights the deal's precedent for bitcoin miners pivoting to AI, with power constraints and $500 million in annual savings forecast by 2027.
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96 Articles
Core Scientific, which has a Denton AI data center, will be sold to N.J.-based CoreWeave in $9B deal
Core Scientific, the owner of a artificial intelligence data center facility in Denton on city-owned land, is being sold to CoreWeave, a New Jersey-based AI data center company,
·Denton, United States
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CoreWeave-Core Scientific deal pushes AI merger tally over $65 billion as M&A market thaws - Overpasses For America
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Total News Sources96
Leaning Left8Leaning Right4Center13Last UpdatedBias Distribution52% Center
Bias Distribution
- 52% of the sources are Center
52% Center
L 32%
C 52%
R 16%
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