AI Coins Surge After $9 Billion CoreWeave Deal Faces Pushback
The post AI Coins Surge After $9 Billion CoreWeave Deal Faces Pushback appeared on BitcoinEthereumNews.com. CoreWeave’s $9 billion plan to acquire Core Scientific is facing growing resistance, and crypto markets are paying attention. The unexpected shareholder pushback has coincided with a sharp rally in AI tokens, suggesting that investors see deeper implications beyond the boardroom. CoreWeave Builds Out AI Infrastructure CoreWeave is one of the largest AI infrastructure providers in the United States. In June, it proposed an all-stock acquisition of Core Scientific, a Bitcoin mining firm now repositioning itself as a data center player for AI workloads. But that plan is seeing pushback. The deal seemed to be going smoothly, until Two Seas Capital, Core Scientific’s largest shareholder, objected. Two Seas Capital has a 6.3% stake in Core Scientific. Today, the firm announced it would vote against the deal. The firm believes the offer dramatically undervalues Core Scientific and exposes shareholders to unnecessary risk. “We invested in Core Scientific because we believe in [its] ability to create value in building…infrastructure at scale. We are therefore disappointed that the Board of Directors has chosen to sell the Company to CoreWeave. From our perspective as a shareholder of Core Scientific, the proposed sale materially undervalues the Company and unnecessarily exposes its shareholders to substantial economic risk,” Two Seas’ statement read. On the surface, Core Scientific has plenty of good reasons to sign this AI development deal with CoreWeave. The firm’s revenues fell dramatically in early 2025, and CoreWeave is preparing to pay $9 billion for it. However, this offering consists of CoreWeave stock, not fiat currency. This deal is also uncollared. So, Core Scientific shareholders like Two Seas won’t receive a share adjustment if CoreWeave’s stock price drops. Simply put, the firm needs more assurances than that. While CoreWeave is a major player in AI cloud services—reportedly one of OpenAI’s preferred GPU providers—it faces its own…
The post AI Coins Surge After $9 Billion CoreWeave Deal Faces Pushback appeared on BitcoinEthereumNews.com.
CoreWeave’s $9 billion plan to acquire Core Scientific is facing growing resistance, and crypto markets are paying attention. The unexpected shareholder pushback has coincided with a sharp rally in AI tokens, suggesting that investors see deeper implications beyond the boardroom. CoreWeave Builds Out AI Infrastructure CoreWeave is one of the largest AI infrastructure providers in the United States. In June, it proposed an all-stock acquisition of Core Scientific, a Bitcoin mining firm now repositioning itself as a data center player for AI workloads. But that plan is seeing pushback. The deal seemed to be going smoothly, until Two Seas Capital, Core Scientific’s largest shareholder, objected. Two Seas Capital has a 6.3% stake in Core Scientific. Today, the firm announced it would vote against the deal. The firm believes the offer dramatically undervalues Core Scientific and exposes shareholders to unnecessary risk. “We invested in Core Scientific because we believe in [its] ability to create value in building…infrastructure at scale. We are therefore disappointed that the Board of Directors has chosen to sell the Company to CoreWeave. From our perspective as a shareholder of Core Scientific, the proposed sale materially undervalues the Company and unnecessarily exposes its shareholders to substantial economic risk,” Two Seas’ statement read. On the surface, Core Scientific has plenty of good reasons to sign this AI development deal with CoreWeave. The firm’s revenues fell dramatically in early 2025, and CoreWeave is preparing to pay $9 billion for it. However, this offering consists of CoreWeave stock, not fiat currency. This deal is also uncollared. So, Core Scientific shareholders like Two Seas won’t receive a share adjustment if CoreWeave’s stock price drops. Simply put, the firm needs more assurances than that. While CoreWeave is a major player in AI cloud services—reportedly one of OpenAI’s preferred GPU providers—it faces its own…
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