According to market sources, Core Scientific stock price jumped 33% after The Wall Street Journal reported that the cloud giant CoreWeave, is back in talks to buy the Bitcoin miner-turned-AI infrastructure provider. The stock surged to $16.44, reversing a 15% year-to-date decline and rekindling excitement for a deal many thought was dead after last year’s $5.75 per share offer.
Acquisition Rumors Send Core Scientific Stock Soaring
The Wall Street Journal reported that CoreWeave, a $75 billion+ valued GPU cloud giant, is reviving its offer for Core Scientific (NASDAQ: CORZ). While terms were not disclosed, analysts think the new offer will be higher than last year’s withdrawn bid given the company’s operational shift and new GPU hosting agreements.
CORZ stock price closed at $16.44, a 33.7% intraday gain, more than 3x the $5.75 level CoreWeave offered last year. This was one of CORZ’s biggest one-day gains since emerging from bankruptcy in January.
Why CoreWeave Wants Core Scientific and Why Investors Are Buying
CoreWeave’s interest appears tied to Core Scientific’s move from a pure Bitcoin miner to a diversified compute infrastructure provider. In late 2024, Core Scientific signed a 12-year agreement with CoreWeave to deliver up to 200 megawatts (MW) of power capacity for its GPU clusters, needed for machine learning workloads and enterprise AI models.
According to the original filing, that deal is expected to generate $3.5 billion in cumulative revenue over its term. Core Scientific has 16 MW of CoreWeave GPUs at its Austin campus with plans to phase out across Texas and Oklahoma sites. With 724 MW of contracted power infrastructure, it’s one of the largest operators of immersion-cooled rigs and retrofittable data center shells in North America.
Market Context: Institutional Demand and AI Compute Crunch
CoreWeave’s revival of its buyout interest comes as the market is edging towards AI infrastructure M&A as cloud providers are scrambling for space, power and hardware in a global GPU shortage.
Since going public, CoreWeave has grown fast, with Microsoft as its biggest customer, with the tech giant accounting for 62% of 2024 revenue. The company also leases GPUs to other big companies like Meta and IBM and is being forced to scale faster than traditional greenfield build allows.
This supply-demand mismatch is driving investor confidence in companies like Core Scientific, pushing Core Scientific stock higher as it becomes a top target for hyperscale data center expansion.
Analysts Expect a Higher Valuation Than 2024’s Bid
In 2024, CoreWeave’s initial offer for Core Scientific was rejected by the board as “unsolicited” and way too low. Since then, Core Scientific has improved its fundamentals and diversified its revenue stream.
As of June 2025, CORZ had come out of bankruptcy, restructured its debt, and is back up and running with AI hosting.
Bankers following the situation told Reuters a deal could be worth $25-$30 per share, a 50-80% premium over current levels and more fuel for Core Scientific stock speculation.
Technical Signals Support Bullish CORZ Stock Price
Technicals also look good short term for CORZ stock price. According to Investor’s Business Daily, Core Scientific’s Relative Strength Rating was just upgraded to 86, a strong price performance vs its peers. The company’s accumulation/distribution rating is also showing institutional buying.
Traders on StockTwits have $18.60 as the next resistance, which is the post-relist high. If a deal is announced or terms are favorable, Core Scientific stock price could retest or break above that.
Conclusion
The 33% move in Core Scientific stock isn’t just about merger speculation but the changing value of mining infrastructure in the post-Bitcoin-halving world. Core Scientific’s turn to AI hosting, long-term power assets, and deep relationship with CoreWeave make them a unique asset in today’s compute-starved world.
As the merger talks progress, investors should expect volatility to remain high but also look for more upside if the terms confirm the company’s growing value.
Summary
The Core Scientific stock price is up 33% to $16.44 after WSJ reported CoreWeave is back in acquisition talks. CoreWeave previously offered $5.75/share in 2024 which Core Scientific rejected. Since then Core Scientific has turned into AI infrastructure and signed a $3.5B, 12 year deal with CoreWeave to host GPU clusters. Analysts think any new offer will be above $25/share given the new valuation.
Glossary
Immersion Cooled Mining Rigs – Hardware cooled through liquid immersion for more energy efficiency.
Megawatt (MW) – Unit of power capacity; 1 MW can power about 1,000 homes.
Relative Strength Rating (RS) – Technical indicator showing how a stock performs vs others.
Hyperscaler – Tech company operating massive data centers, e.g. AWS, Microsoft, Google Cloud.
FAQs
Why did Core Scientific stock price go up?
The stock is up over 33% after reports CoreWeave is back in acquisition talks and a possible premium offer.
What was the previous offer?
CoreWeave offered $5.75/share in 2024 which was rejected. The current price is above $16/share.
How high will the CORZ stock price go?
Analysts think a new offer will be above $25/share so more upside for investors.
What makes Core Scientific attractive to CoreWeave?
Its AI ready infrastructure, GPU hosting and low cost power make it ideal for AI compute expansion.
Sources
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