09:02 AM EDT, 07/07/2025 (MT Newswires) -- CoreWeave ( CRWV ) plans to acquire Core Scientific ( CORZ ) in an all-stock transaction valued at $9.0 billion, the companies said Monday.

The transaction is expected to close in Q4 subject to approvals by regulators and Core Scientific ( CORZ ) shareholders. Upon closing, CoreWeave ( CRWV ) expects Core Scientific's ( CORZ ) stockholders ownership of the combined company will be less than 10%, the companies said.

Under the acquisition terms, Core Scientific ( CORZ ) shareholders will receive 0.1235 newly issued shares of CoreWeave ( CRWV ) stock for each share of Core Scientific ( CORZ ), a premium of 66% over the target company's June 25 closing price, the companies said.

Through the acquisition, CoreWeave ( CRWV ) will own approximately 1.3 gigawatts of power across Core Scientific's ( CORZ ) national data center footprint with another gigawatt or more of potential gross power available for expansion, the companies said.

CoreWeave ( CRWV ) expects to generate cost savings through streamlining business operations and eliminating lease overhead, the companies said.

Coreweave ( CRWV ) shares were down around 4.7% in recent Monday premarket activity, while shares of Core Scientific ( CORZ ) were more than 17.2% lower.