CoreWeave, an AI company, is acquiring data center infrastructure provider Core Scientific in a $9 billion deal.
The acquisition allows CoreWeave to enhance efficiency, reduce costs, and have more control over infrastructure for AI and HPC workloads at scale.
Core Scientific provides infrastructure for bitcoin mining and hosting services and the deal comes amidst a trend of high-value AI startup mergers and acquisitions.
The value of M&A deals involving AI startups has significantly increased, with companies spending billions on AI-related acquisitions in 2022, showcasing a growing trend of consolidation in the industry.