Kirkland Advises CoreWeave on Agreement to Acquire Core Scientific
Kirkland & Ellis advised CoreWeave (NASDAQ: CRWV), the AI Hyperscaler™, on a definitive agreement with Core Scientific (NASDAQ: CORZ), a leading data center infrastructure provider, under which CoreWeave will acquire Core Scientific in an all-stock transaction. Upon closing and under the terms of the agreement, which has been approved by the board of directors of each company, Core Scientific stockholders will receive 0.1235 newly issued shares of CoreWeave Class A common stock for each share of Core Scientific common stock held, implying a total equity value of approximately $9 billion. Following CoreWeave’s successful IPO in March 2025, this acquisition will help CoreWeave verticalize its data center footprint to future-proof revenue growth and enhance profitability. Through this acquisition, CoreWeave will own approximately 1.3 GW of gross power across Core Scientific's national data center footprint with an incremental 1 GW+ of potential gross power available for expansion. The transaction is expected to close in the fourth quarter of 2025, subject to customary closing conditions, including regulatory approval and approval by Core Scientific stockholders.
Read the transaction press release
The Kirkland team included corporate lawyers Melissa Kalka, David Feirstein, Doug Bacon, Daley King and Colleen Haile; debt finance lawyers Lucas Spivey and Osaro Aifuwa; energy regulatory lawyers Drew Stuyvenberg and Erin Bartlett; real estate lawyers Kim McGrath and Michael Shultz; and tax lawyer David Wheat.
