Core Scientific’s board has asked its shareholders to approve a deal that will sell a large piece of its CoreWeave business. The company seeks approval for a financial package that will give Core Scientific a cash infusion of about $800 million.
The transaction would see Core Scientific deliver about 80 % of its CoreWeave assets to a consortium of investors led by private‑equity firm Silvergate Capital. In return, Core Scientific will keep a smaller stake and the right to participate in future growth.
Board members say the deal aligns with Core Scientific’s long‑term strategy to focus on high‑performance computing and reduce debt. The proposal was filed this week and will go to a vote at the upcoming shareholders’ meeting on May 22.
Shareholders can file their votes online or by mail. If the deal passes, the company will move quickly to close the transaction, expecting to finish by the end of the fiscal year. The move could give Core Scientific the flexibility to invest in new data‑center projects and expand its cloud computing services.
Stay informed on all the latest news, real-time breaking news updates, and follow all the important headlines in world News on Latest NewsX. Follow us on social media Facebook, Twitter(X), Gettr and subscribe our Youtube Channel.
