Someone Will Look Dumb in the $9 Billion AI Merger: Chris Hughes

Take a pair of one-time crypto miners, modify their business strategies, add in some retail investors and agree to an all-stock merger. CoreWeave Inc.’s takeover of smaller Core Scientific Inc. is no ordinary piece of deal-making. The journey from here should be fun to watch.

Both have shifted focus from crypto to the data centers facilitating the rapid growth of artificial intelligence. Livingston, New Jersey-based CoreWeave went public just a few months ago and its shares climbed to around four times their debut price for a market capitalization exceeding $75 billion. On Monday, it took advantage of that surge to strike a $9 billion all-stock deal for ...