CoreWeave just dropped the most aggressive infrastructure play in AI this quarter. On July 7, they announced a $9 billion all-stock acquisition of Core Scientific. That gives them direct access to roughly 1.3 gigawatts of active data center capacity and another gigawatt lined up. The move eliminates $10 billion in lease obligations and sets up $500 million in annual cost savings by 2027. The transaction is expected to close in Q4 pending regulatory approval.
Since going public in March, CoreWeave stock has surged from $10 to $42. That’s a 313% gain in four months. The float remains tight. Short interest is hovering near 32%. That creates pressure every time the stock moves upward. Volume this week picked up fast. Traders are flooding into call contracts with next-week expiries, betting on another leg higher.
CoreWeave’s identity is infrastructure. It runs Blackwell GB300 servers from Nvidia, converts old crypto sites into AI data centers, and builds its own facilities. They’re not waiting for landlords. They own the ground. Revenue exploded last year. The company is expanding across states, adding compute nodes in North Carolina, Texas, and Oregon. Energy partnerships are underway.
Market sentiment is rallying around anything tied to AI, and CoreWeave has all the ingredients: growth, low float, short pressure, and direct ties to Nvidia’s ecosystem. Some traders say it’s still underloved, others are chasing momentum. Either way, attention is locked on Q4 when the deal closes. This is a real buildout. CoreWeave is stacking its deck while the rest of the field is still drawing plans.
Sources:
https://finance.yahoo.com/news/coreweave-acquire-core-scientific-122700931.html