Core Scientific surges on report co in takeover talks with CoreWeave

Shares of Core Scientific CORZ.O jump 22% to $15, highest since Jan, on Thurs after report it's in talks to be acquired by AI hyperscaler CoreWeave CRWV.O

A transaction could be finalized in coming weeks, as long as talks don't hit any snags, Wall Street Journal reported, citing people familiar

CRWV shares down less than 1% on the session

Through Weds close, CORZ had about $3.7 bln market cap, per LSEG, and shares had shed roughly 12% YTD

Last Jun, CORZ rejected Nvidia-backed NVDA.O CRWV's buyout offer of $5.75/sh, which valued CORZ's business at about $1 bln at the time

CORZ shares were in negative territory earlier on the session in wake of data center operator Equinix's EQIX.O weak rev growth forecast