CoreWeave’s CEO said the acquisition will enhance the company’s performance and expertise as they "continue helping customers unleash AI’s full potential."

CoreWeave announced its anticipated acquisition of Core Scientific on Monday. The deal has several benefits for CoreWeave and very little risk. On Monday, July 7, AI infrastructure darling CoreWeave (NASDAQ: CRWV) announced it would be acquiring Bitcoin miner Core Scientific (NASDAQ: CORZ) in an all-stock deal.

The $9 billion deal is a play on AI power needs, but one analyst thinks the purchase price undervalues Core Scientific’s business and potential.