Core Scientific shareholders reject $9B sale amid AMD partnership

Core Scientific shareholders said no to $9 billion. Turns out, they may have been right. The Bitcoin mining and data center company saw its investors reject an all-stock acquisition by CoreWeave last October, a deal that would have valued the firm at roughly $9B and paid 0.1235 CoreWeave shares for each CORZ share. Seven months later, Core Scientific announced a sweeping infrastructure partnership with AMD that makes the rejected buyout look like it would have sold the company short. The deal that died CoreWeave first pitched the acquisition in July 2025, framing it as a natural consolidation play in the AI infrastructure space. The all-stock structure meant CORZ holders would be taking on CoreWeave’s risk profile rather than receiving cash. Questions about valuation and the acquisition process piled up. By October 30, 2025, the deal was dead. AMD steps in with a bigger vision On July 28, 2026, Core Scientific and AMD announced a partnership to deliver over 500 megawatts of AI-ready data center capacity starting in 2027, with the potential to scale up to 2.5 gigawatts. The deal goes beyond a simple landlord-tenant arrangement. AMD and Core Scientific will collaborate on deploying A...