Texas company shareholders reject $9B acquisition by Nvidia-backed AI firm

Core Scientific and CoreWeave Merger - Core Scientific shareholders rejected a $9 billion merger deal with CoreWeave due to insufficient votes for approval [1] - The merger was part of a trend among AI companies seeking power-rich infrastructure to support increasing computational demands [2] CoreWeave's Position and Financials - CoreWeave, backed by Nvidia, is an OpenAI partner providing AI infrastructure for advanced language model training [3] - CoreWeave secured a $6.3 billion order from Nvidia, which includes a commitment to purchase unsold capacity through April 2032 [3] Market Reaction - Following the merger rejection, CoreWeave's stock fell over 6% to close at $131.06, while Core Scientific's stock remained stable at $20.74 [4] Industry Context - Bitcoin mining has become increasingly complex and costly, leading miners to explore alternative fields such as AI [5] - Core Scientific shareholders felt the acquisition deal undervalued the company [6]