Core Scientific’s merger with CoreWeave fails as shareholders balk at price

Core Viewpoint - Core Scientific's proposed merger with AI neocloud CoreWeave was rejected by shareholders after a social media campaign against the deal [1][2] Group 1: Merger Details - The merger was valued at approximately $9 billion and was initially agreed upon in June 2025, but required shareholder approval in Q4 2025 [1] - The merger deal was only provisional and faced significant opposition from major stakeholders [2] Group 2: Shareholder Actions - Two Capital and Institutional Shareholders Services (ISS) actively campaigned for a "No" vote, citing unfavorable economics of the merger [2] - AI-focused hedge fund Situational Awareness acquired Core Scientific shares, likely to benefit from the merger's failure [2] Group 3: Voting Outcome - The special meeting held on October 30, 2025, resulted in shareholders not approving the merger, as the necessary votes were not obtained [3] - Following the announcement, Core Scientific's share price declined by 3% [3]