CoreWeave Acquires Core Scientific: A $9bn Move in the AI Data Centre Landscape
Alice and Lewis discuss the $9bn CoreWeave acquisition of Core Scientific, its strategic implications, and the mixed market reaction.
In this episode of UK Business Morning, Alice and Lewis delve into the significant $9bn acquisition of Core Scientific by CoreWeave. They explore how this deal, which eliminates $10bn in lease costs, marks a strategic shift for CoreWeave, moving from a rental model to owning high-performance data centres. The hosts discuss the previous rejected offer, the expected $500mn in annual cost savings, and the mixed stock market reaction, with Core Scientific's shares down 20% and CoreWeave's falling nearly 5%. They also touch on the companies' transition from crypto mining to AI computing and the potential long-term benefits of this acquisition in the booming AI market.
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