Shares of Core Scientific surged on renewed deal talks with AI powerhouse, resulting in one of its busiest days on the market since returning to Nasdaq in early 2024.
The potential acquisition stems from a $10.2 billion deal inked in mid-2023 for Core Scientific to provide AI-ready infrastructure, following CoreWeave's previous failed buyout attempt in 2024.
Core Scientific has shifted focus from crypto mining to AI infrastructure, leading to significant market cap growth and positioning as a key AI infrastructure provider.
Talks between Core Scientific and CoreWeave have resumed, potentially resulting in CoreWeave becoming the full owner, enhancing control over infrastructure for compute-heavy operations.