CoreWeave agreed to purchase Core Scientific in an all-stock deal valued at $9 billion.
Shares of CoreWeave (CRWV) opened lower on Tuesday as analysts questioned whether the company’s recent acquisition of Core Scientific (CORZ) would contribute meaningfully to its bottom line.
CRWV stock was down 3.6% after the opening bell, hitting a low of $153.97. Despite the decline, the crypto miner turned AI infrastructure company holds a market capitalization of $75 billion after posting a 288% gain since its initial public offering in March.
Selling pressure mounted after D.A. Davidson’s Gil Luria raised doubts about CoreWeave’s $9 billion all-share deal to acquire Core Scientific, announced Monday.
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