CoreWeave announced on Monday that it has taken control of data center infrastructure provider Core Scientific through a $9 billion all-stock agreement.
As a result of the deal, CoreWeave will gain access to nearly one gigawatt of data center capacity — enough power to supply over 850,000 homes. CoreWeave plans to rent out this capacity primarily for training and running artificial intelligence models. While Core Scientific previously offered Bitcoin mining services, its GPUs will now be used to run and train generative AI models.
Cloud infrastructure providers are competing to expand their data center capabilities to meet the growing computational demands of AI companies. According to Bloomberg, OpenAI recently secured a deal with Oracle to rent an additional 4.5 gigawatts of data center capacity, expanding the two companies’ existing Stargate infrastructure partnership.
