CRWV update: CoreWeave $9 billion data deal to buy Core Scientific sends both stocks tumbling

AI cloud computing giant CoreWeave announced on Monday it has signed a deal to acquire Core Scientific, a data center provider, in an all-stock deal valued at $9 billion.

The news sent share of both companies tumbling in early trading on Monday, with CoreWeave (NASDAQ: CRWV) slightly recovering by midday, down almost 3%, while Core Scientific (NASDAQ:CORZ) remained in the red, down a staggering 16%. However, Core Scientific stock is still up about 25% since the deal was first reported by the Wall Street Journal last month...