Core Scientific’s board urged its shareholders on Wednesday to vote for the company’s proposed sale to CoreWeave.
CoreWeave announced its intention to buy Core Scientific in an all-stock deal valued at about $9 billion in July. The proposed deal faces opposition from the crypto miner’s biggest shareholder, Two Seas Capital.
Core Scientific’s board has “unanimously determined” that the deal represents the best alternative for all its stockholders, it said in an investor presentation on Wednesday.
CoreWeave provides access to data centers and Nvidia-powered AI chips to companies seeking to train large language models.
