CoreWeave Buys Core Scientific in $9 Billion Bet on AI Power (1)

CoreWeave Inc. is dropping $9 billion on the data-center operator Core Scientific Inc. in an effort to gain more direct control over the physical assets powering the artificial-intelligence boom.

In buying Core Scientific in an all-stock deal, CoreWeave will inherit more than a gigawatt of data-center capacity across the US — much of which is already contracted out to serve its clients in training, deploying and using AI models. CoreWeave said Monday that controlling more of its supply chain will eliminate lease expenses, reduce costs including those associated with financing projects and “future-proof” its revenue growth.

Cloud infrastructure providers are ...