Nvidia’s deepened partnership with CoreWeave raises pressure on bitcoin miners pivoting to AI infrastructure.
Already an investor in CoreWeave, Nvidia last September had agreed to purchase $6.3 billion of computing services from the AI infrastructure provider.
Blowout Micron results reignite AI optimism, lifting tech futures and stabilising bitcoin even as parts of the AI equity complex remain under pressure.
Bitcoin miners who pivoted business plans to high-performance computing benefitted greatly this year, but have seen sharp declines of late.
Though remaining sharply higher than their IPO price, shares have struggled over the past six months, losing 50%.
CoreWeave share price falls below $100 for the first time since September after Q4 warning and lingering pressure from the failed Core Scientific deal.
The bitcoin miner turned AI infrastructure play has more than 50% upside, said the bank.
CORZ holders rejecting the merger shows that bitcoin miners’ infrastructure is becoming a lucrative key to the AI data-center boom.
The widely-panned takeover attempt failed a shareholder vote failed a shareholder vote.on Thursday.
The bank said investors are likely to vote down the deal on Oct. 30, betting Core Scientific can create more value on its own.
The investment bank upgraded the stock to buy from neutral and set a new price target of $25.
Galaxy COO Chris Ferraro touted disciplined execution and Galaxy One’s appeal to high-net-worth clients; execs say funding efficiency will drive long-term profitability.
Michael Intrator calls the deal a “nice to have” as ISS and major investors urge shareholders to reject the proposed acquisition.
The company calls its offer for CORZ “best and final” as it counters hedge fund criticism and urges investors to back the deal.
CoreWeave secures $14.2 billion dollar Meta contract, draws bullish analyst coverage, and awaits Core Scientific merger vote.
Nvidia agreed to purchase CoreWeave’s unused data center capacity through 2032.
The bank reiterated its buy rating on CORZ and raised its price target for the bitcoin miner to $22 from $16 to reflect the CoreWeave acquisition.
The firm, led by Mike Novogratz, projected its deal with AI cloud firm CoreWeave could generate $1 billion in annual revenue over 15 years.
Two Seas Capital has come out against Core Scientific's proposed all-stock acquisition by AI cloud provider CoreWeave.
The deal, however, appears to be a "one-off," and unlikely to be replicated.
The firm's analysts expect shareholder approval for the transaction, with no indication of delays to the closing timeline.
CoreWeave, a rising player in the artificial intelligence industry, has entered a definitive agreement to acquire Bitcoin mining company Core Scientific in an all-stock transaction, according to a July 7 announcement. This strategic move would help CoreWeave to strengthen its data center capabilities and expand its AI and high-performance computing (HPC) infrastructure. Agreement terms Under the […]
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Deal valued at $20.40/share marks second acquisition attempt; KBW sees limited upside for Core Scientific shareholders.
The deal aligns with CoreWeave's post-IPO growth strategy, leveraging its strong equity position to drive large-scale M&A, according to the investment bank.
The deal values Core Scientific shares at $20.40, a 66% premium to its price late last month, with each Core Scientific share being swapped for 0.1235 CoreWeave shares.
The acquisition positions CoreWeave among the largest holders of U.S. data-center power at a time when demand for AI compute far outstrips supply.
A new Cantor Fitzgerald report argues that bitcoin miner Core Scientific is worth far more than the markets believe thanks to its strategic role in powering AI.
A number of bitcoin miner shares are moving higher on the news.
Surging AI demand drives 276% YTD rally as CoreWeave secures major infrastructure capacity for HPC expansion.