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Core Scientific shareholders reject $9bn acquisition by CoreWeave
Yahoo Finance· 2025-10-31 10:11
Core Scientific and CoreWeave Acquisition - Shareholders of Core Scientific voted against the $9 billion acquisition by CoreWeave, leading to the immediate termination of the deal [1] - The acquisition was an all-stock deal announced in July 2025, where each Core Scientific share was to be exchanged for 0.1235 shares of CoreWeave Class A common stock [2] - Had the merger proceeded, CoreWeave would have gained control over approximately 1.3 gigawatts (GW) of gross power capacity from Core Scientific's data centre portfolio [3] Expected Outcomes of the Acquisition - CoreWeave anticipated cost reductions through streamlined business processes and reduced lease obligations from the acquisition [4] - The merger was expected to provide greater flexibility in infrastructure financing and lower capital costs, along with enhanced control over critical power resources [4] - Core Scientific's data centre development capabilities were expected to complement CoreWeave's expertise in power procurement, construction, and site management [5] CoreWeave's Recent Developments - CoreWeave has acquired Marimo, a creator of an open-source Python-based development environment optimized for AI and data-intensive workloads [5] - The integration of Marimo into CoreWeave's ecosystem aims to enhance AI development and deployment by embedding its technology into the CoreWeave Cloud platform [6] - Marimo's offering is designed for version-controlled programming, facilitating seamless scalability from prototyping to production deployment, thereby enhancing CoreWeave's developer platform capabilities for AI applications [7]
CoreWeave Acquires Marimo to Unify the Generative AI Developer Workflow
Businesswire· 2025-10-30 14:41
Core Viewpoint - CoreWeave has announced a definitive agreement to acquire Marimo, enhancing its AI development platform by integrating Marimo's open-source marimo notebook, which is designed for AI and data workloads [1][4]. Company Overview - CoreWeave is positioned as a leading cloud provider specifically built for AI, enabling rapid development and deployment of AI solutions for labs, enterprises, and developers [2][8]. - Marimo, founded in 2022, specializes in creating a reactive development environment for Python, facilitating seamless transitions from experimentation to production for AI developers [9]. Acquisition Details - The acquisition aims to integrate Marimo's technology into the CoreWeave Cloud, creating a unified developer experience across the entire AI lifecycle, including training, inference, and data movement [3][4]. - The deal will enhance CoreWeave's vertically integrated platform, allowing developers to build, scale, and deploy applications more efficiently [3]. Strategic Goals - The collaboration between CoreWeave and Marimo is intended to empower developers to leverage AI and data more effectively, fostering the next generation of AI-native products [4]. - CoreWeave is committed to maintaining Marimo's open-source project, ensuring that the marimo notebook remains freely available and guided by community collaboration [5]. Recent Developments - This acquisition follows CoreWeave's recent purchases, including OpenPipe and Weights & Biases, which have strengthened its AI cloud capabilities and created a comprehensive AI developer platform [6]. - CoreWeave has also announced its intent to acquire Monolith AI, further expanding its capabilities in applying AI to complex challenges [7].