TLDR
- CoreWeave stands firm on its final offer for Core Scientific’s merger.
- Company defends deal value, dismissing hedge fund criticism.
- CoreWeave touts merger as key to efficiency and rapid growth.
- No rival bids emerge, reinforcing CoreWeave’s strategic dominance.
- Shareholders to decide the deal’s fate in October’s crucial vote.
CoreWeave, Inc. (NASDAQ: CRWV) ended regular trading at $141.74, gaining 1.80% before dipping 0.92% to $140.44 after hours.
CoreWeave, Inc. (NASDAQ: CRWV)
The company reiterated its firm stance on acquiring Core Scientific, Inc. (NASDAQ: CORZ) in a July 7, 2025 all-stock deal. This development arrives as Core Scientific’s stockholders prepare for a critical vote on October 30, 2025.
CoreWeave Declares Offer Final as Deal Vote Nears
CoreWeave emphasized that the terms announced in July remain its best and final offer without any intention of modification. The company made this position clear both in private discussions and public disclosures to avoid any ambiguity. It also underscored that the offer provides immediate value while enabling continued upside potential.
The company countered criticisms from hedge fund Two Seas Capital, which claimed the deal undervalues Core Scientific. CoreWeave stated the offer reflects a fair premium and a compelling growth opportunity for Core Scientific’s shareholders. It also argued the criticisms misrepresent the benefits and strategic advantages of the merger.
The acquisition aims to eliminate execution risks associated with Core Scientific’s standalone growth strategy, including its heavy capital requirements. CoreWeave highlighted the operational and financing efficiencies the merger would create. These include access to capital and expansion opportunities that are not guaranteed under the standalone plan.
CoreWeave Challenges Standalone Value Claims
CoreWeave dismissed the notion that Core Scientific can create more value independently through internal expansion. It pointed out that Core Scientific would need substantial debt or dilutive equity to execute its standalone plan. Additionally, delays and operational challenges, already disclosed in filings, cast doubt on that strategy.
The partnership has produced tangible stock performance, with Core Scientific rising approximately 150% over 13 months. This outpaces similar companies, which grew around 25% in the same timeframe, based on CoreWeave’s analysis. CoreWeave insists that this growth directly links to its strategic alignment and existing agreements with Core Scientific.
The company believes merging will streamline infrastructure, enhance scale, and accelerate development by integrating Core Scientific’s data center assets. It noted that vertically integrating operations reduces reliance on external financing and supports long-term scalability. CoreWeave presented this as the most efficient way to unlock new growth avenues.
No Rival Bidders in Sight as CoreWeave Pushes for Vote Approval
CoreWeave stated it remains the only serious acquirer of Core Scientific since its initial approach in June 2024. No other bidder has emerged, even after public deal announcements, which reinforces CoreWeave’s strategic fit. The company also stressed that Core Scientific’s current high-performance computing revenue depends almost entirely on CoreWeave.
With over 76% of Core Scientific’s projected 2026 revenue tied to CoreWeave, other acquirers may lack operational synergies. CoreWeave positioned itself not as just a customer but as a strategic partner essential to Core Scientific’s future. It concluded that any alternate acquirer would only become a landlord with limited growth control.
CoreWeave urged Core Scientific stockholders to vote in favor of the deal at the upcoming special meeting. Only stockholders of record as of September 19, 2025, are eligible to vote. The outcome of this vote will determine whether the proposed merger proceeds under the outlined terms.
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