Why CoreWeave Stock Slipped This Week
Key Points
CoreWeave's stock movements this past week were connected to the company's proposed buyout of Core Scientific.
The proposed $9 billion buyout faces opposition from both CoreWeave and Core Scientific shareholders.
Core Scientific shareholders will vote on whether to approve CoreWeave's buyout offer on Oct. 30.
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CoreWeave (NASDAQ: CRWV) stock saw significant swings over the last week of trading connected to news surrounding its proposed acquisition of Core Scientific. CoreWeave stock fell 3.2% across the stretch despite gains 1.9% for the S&P 500 and 2.3% for the Nasdaq Composite setting up a favorable backdrop for artificial intelligence (AI) growth stocks.
Signs that investors have mixed feelings about the Core Scientific acquisition continued to show up in this week's trading. Despite the related volatility, CoreWeave stock is still up 231% in 2025.
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What's happening with the Core Scientific bid?
On Oct. 20, investment firm ISS said that Core Scientific shareholders should vote to reject CoreWeave's $9 billion buyout offer. The news prompted sell-offs for CoreWeave stock on fears that the company could move to increase its buyout price. CoreWeave shareholders already appeared to be mixed on the planned buyout, and the possibility that the AI specialist could pay an even higher sum to close the deal prompted sell-offs.
Concerned shareholders got some reassuring news the following day when CoreWeave CEO Michael Intrator said that the company would not be hiking its bid. On the other hand, shares fell again the next day after Intrator called on Core Scientific shareholders to support the buyout along the previously suggested terms.
What's next for CoreWeave?
The current iteration of the Core Scientific buyout saga is rapidly approaching a close. Core Scientific will vote on whether to approve CoreWeave's buyout on Oct. 30, and it's broadly expected that the deal will not be approved.
The deal being shot down could actually be a positive near-term catalyst for CoreWeave stock -- as a significant block of shareholders seem to believe that the buyout is not in the company's best interest.
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Keith Noonan has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
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