CoreWeave is acquiring Core Scientific for $9 billion in an all-stock deal. The move will give CoreWeave access to over a gigawatt of data center capacity—enough power for more than 850,000 homes. They plan to rent this out for AI training and inference workloads.
Core Scientific, known for Bitcoin mining, will shift its GPUs to support generative AI model training and running.
Cloud providers are battling to expand data center capacity as AI’s compute needs skyrocket. Just last week, Bloomberg reported that OpenAI struck a deal to rent 4.5 gigawatts of capacity from Oracle, increasing their Stargate infrastructure deal. 
This deal puts CoreWeave in a stronger position to serve AI companies hungry for more compute power.
