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The widely-panned takeover attempt failed a shareholder vote failed a shareholder vote.on Thursday.
Updated Oct 30, 2025, 3:37 p.m. Published Oct 30, 2025, 3:34 p.m.
Core Scientific (CORZ) shareholders have rejected a proposed $9 billion all-stock merger with CoreWeave (CRWV), halting one of the most anticipated deals in the AI data center sector.
CORZ is higher by 4.5% on the news, while CRWV added modestly to earlier losses, now down 5% for the session.
The quick vote followed recommendations from proxy advisers and as well as at least one sizable CORZ investor to oppose the transaction, which many investors said undervalued the company's long-term potential and offered no protection against CoreWeave’s volatile stock.
The vote prompted Core Scientific to formally terminate the merger agreement, ending CoreWeave’s plan to secure more data center capacity and reduce roughly $10 billion in future leasing costs.
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