CoreWeave, a rapidly growing cloud computing company specializing in GPU-based infrastructure for AI, is in advanced talks to acquire Core Scientific, a bitcoin mining and hosting provider that has pivoted aggressively into AI infrastructure. The news caused Core Scientific shares to surge about 33% on June 26, 2025, reflecting strong investor optimism about the deal, which could be finalized in the coming weeks barring any last-minute issues.

This potential acquisition would deepen the long-running partnership between the two companies, which includes billions of dollars in contracted commitments and a 12-year collaboration. Core Scientific has been transforming its mining capacity to support high-performance compute workloads for AI, a move that mirrors the industry-wide trend of retrofitting data centers to capitalize on the booming AI sector.

Core Scientific’s turnaround story has gained momentum since its January 2024 exit from bankruptcy and shift towards AI infrastructure. The company’s partnership with CoreWeave, which is backed by Nvidia and recently went public, is now expected to generate more than $10 billion in revenue commitments. Infrastructure delivery of 590 megawatts is slated by early 2026.

Separately, CoreWeave recently secured a major deal to provide compute capacity to Google’s cloud unit as part of Google’s partnership with OpenAI. This arrangement enables Google to sell CoreWeave’s GPU-based cloud computing resources to OpenAI to meet its increasing demand for AI services. The multi-billion-dollar collaboration underscores CoreWeave’s growing influence and diversified revenue streams in the AI cloud market.

CoreWeave 27s strategic moves, including the potential acquisition of Core Scientific and partnerships with tech giants like Google and OpenAI, position the company as a key player in the evolving AI infrastructure landscape, driving significant growth and innovation in high-performance cloud computing.