Core Scientific's shareholders balk at terms of CoreWeave merger offer: FT

CoreWeave's proposed $9 billion acquisition of data centre landlord Core Scientific is facing potential revolt, as some top shareholders of the target firm argue the deal may leave them short-changed, the Financial Times reported.

Some major Core Scientific shareholders plan to vote against the deal unless the terms are revised in the coming weeks, the report said on Tuesday, citing people familiar with the matter.

Reuters could not immediately verify the report. CoreWeave and Core Scientific did not immediately respond to Reuters request for a comment outside regular business hours.


The shareholder vote for Core Scientific has not yet been scheduled but is expected to take place sometime this autumn, the report said.

The all-stock deal, valued at about $9 billion and announced last month, highlights the race among AI infrastructure firms to secure the energy and data center capacity required to meet surging demand.

CoreWeave, which provides access to data centers and Nvidia-powered AI chips, initially submitted an unsolicited, non-binding takeover offer to Core Scientific in June 2024. However, the company rejected the offer, citing that its business was significantly undervalued.