Core Scientific Soars 33% as CoreWeave Acquisition Talks Push Stock to 6-Month High

TradingKey – Core Scientific (CORZ) shares surged more than 33% on Thursday, June 26, closing at $16.36, their highest level since January. The rally was fueled by reports that CoreWeave, a fast-growing AI infrastructure firm backed by NVIDIA (NVDA), is in advanced talks to acquire the crypto mining company.

Core Scientific Price Chart – Source: TradingView.

According to The Wall Street Journal, CoreWeave — once a crypto miner itself — pivoted to AI in 2022 following Ethereum (ETH)’s shift away from proof-of-work. Since then, it has secured major backing from NVIDIA, which is now its second-largest customer.

Insiders say the deal could be finalized in the coming weeks, though terms remain undisclosed. Analysts speculate that CoreWeave’s interest in Core Scientific may reflect a strategic return to crypto infrastructure, or a move to expand its AI service footprint by leveraging Core Scientific’s high-performance data centers.