AI infrastructure firm CoreWeave (CRWV) has said it does not plan to change its $9 billion offer for Core Scientific (CORZ), even though some shareholders believe the deal undervalues the company. Indeed, CEO Michael Intrator told Bloomberg TV on Tuesday that the agreement “represents the value for them,” which shows that CoreWeave is committed to the original terms. His remarks come as several Core Scientific investors have spoken out against the proposal by saying the company is worth more than what is currently being offered.
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In fact, The Financial Times reported in August that some investors see Core Scientific’s value closer to $25 per share, which would push the deal to around $11.5 billion. Under the existing agreement, Core Scientific shareholders would receive 0.1235 new shares of CoreWeave for each share they own. This setup has led to a debate among top shareholders and hedge funds who are considering rejecting the deal unless the terms are improved.
The decision will ultimately be made by Core Scientific shareholders when they vote on October 30. If enough investors push back, the deal could be delayed, renegotiated, or canceled altogether. For now, CoreWeave is holding its ground, which could set up a possible clash between the company and shareholders.
Is CRWV Stock a Good Buy?
Turning to Wall Street, analysts have a Moderate Buy consensus rating on CRWV stock based on 15 Buys, 11 Holds, and two Sells assigned in the past three months, as indicated by the graphic below. Furthermore, the average CRWV price target of $154.42 per share implies 20.1% upside potential.
