Core Scientific Buyout: Crucial Shareholder Opposition Rocks $9 Billion CoreWeave Deal

Key Points

1. Two Seas Capital, holding a 6.5% stake in Core Scientific, opposes the $9 billion buyout by CoreWeave, claiming it undervalues the company.

2. The opposition argues the deal terms favor CoreWeave, allowing it to expand AI data center capacity at a bargain price, potentially diluting value for existing shareholders.

3. Core Scientific's shares rose 3% to $14.38 following the announcement of Two Seas Capital's opposition, indicating market optimism for a higher offer.

4. CoreWeave aims to acquire Core Scientific to boost its AI data center capabilities, leveraging Core Scientific's infrastructure.

5. Core Scientific is primarily a crypto mining firm, but its infrastructure is attractive to AI-focused companies like CoreWeave.