CoreWeave (CRWV) introduced its dedication to buying synthetic intelligence (AI) miner Core Scientific (CORZ) below an all-stock deal that was initially agreed on July 7. In an open letter, CoreWeave referred to as the provide “greatest and closing,” stating that it’s going to not be modified. The corporate mentioned the merger represents probably the most safe and value-enhancing path ahead, combining instant premium worth with important long-term upside.
CoreWeave argued that if Core Scientific had been to proceed independently, it will face substantial capital expenditure necessities and execution dangers. The corporate urged shareholders to vote “FOR” the deal on the October 30 particular assembly, emphasizing that the transaction removes main dangers and presents one of the best likelihood for sustainable development and shareholder worth creation.
The corporate additionally addressed and refuted claims from Two Seas Capital, a hedge fund opposing the deal, calling their arguments deceptive and primarily based on misinformation. CoreWeave said that Two Seas’ assertions overlook the numerous operational, monetary, and execution dangers Core Scientific would face by itself, whereas additionally misrepresenting the strategic worth of the proposed merger. It additional mentioned that Two Seas’ narrative ignores the robust market validation mirrored in Core Scientific’s inventory efficiency and the substantial premium CoreWeave is providing.
CoreWeave shares had been down 1.5% in pre-market buying and selling at $140, whereas Core Scientific shares declined 3% to $19.