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Investing.com - CoreWeave (NASDAQ:CRWV), currently valued at $76.56 billion, remained steady after The Wall Street Journal reported the company is in discussions to acquire high-performance compute and Bitcoin mining provider Core Scientific (NASDAQ:CORZ). According to InvestingPro data, CoreWeave stock has shown remarkable momentum with a 298.75% gain over the past six months.
The potential deal comes approximately one year after CoreWeave’s initial attempt to purchase Core Scientific for $5.75 per share. Core Scientific shares jumped about 22% following the report, trading at approximately $15, suggesting an equity value of roughly $4.5 billion and an enterprise value of about $5 billion including $1.2 billion in debt. InvestingPro analysis indicates CoreWeave is currently trading above its Fair Value, with multiple financial metrics and insights available in the Pro Research Report.
Core Scientific currently operates 10 data centers with 1,300 MW of available power capacity, with the company pivoting from its historical focus on Bitcoin mining infrastructure toward high-performance computing. While most revenue still derives from mining operations, Core Scientific has secured over $10 billion in AI and high-density colocation contracts.
CoreWeave is already Core Scientific’s largest tenant, utilizing 590 MW of infrastructure and paying approximately $850 million annually to Core Scientific. Barclays (LON:BARC) maintained its Equalweight rating and $100 price target on CoreWeave stock following the news.
The Wall Street Journal reported that a transaction could be finalized in the coming weeks, barring unforeseen circumstances. CoreWeave had approximately $1.3 billion on its balance sheet at the end of the first quarter and has access to additional financing options through debt facilities and potential share issuance.
In other recent news, CoreWeave has introduced three new AI cloud software products aimed at enhancing AI development and deployment. This launch follows CoreWeave’s acquisition of the AI developer platform Weights & Biases in May 2025, marking the first integration of their cloud services. The new offerings include Mission Control Integration, W&B Inference, and W&B Weave Online Evaluations, currently available to customers in preview. Meanwhile, BofA Securities downgraded CoreWeave’s stock from Buy to Neutral, citing valuation concerns despite positive developments like a new hyperscaler customer and an expanded agreement with OpenAI. Additionally, CoreWeave sold its entire stake in Applied Digital Corp., impacting the latter’s stock performance. CoreWeave’s shares have seen a significant rise since its IPO, creating challenges for short sellers facing substantial losses. Citizens JMP maintained a Market Perform rating on CoreWeave, highlighting valuation concerns and the company’s need to raise significant capital. These developments reflect the dynamic environment surrounding CoreWeave’s financial and strategic maneuvers.
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