Press release
/C O R R E C T I O N -- Two Seas Capital/
In the news release, Two Seas Capital Highlights Significant Value Upside for Core Scientific Shareholders If They Reject the Proposed Sale to CoreWeave,
About this update from Coreweave, Inc.
[{"type":"text","content":"In the news release, Two Seas Capital Highlights Significant Value Upside for Core Scientific Shareholders If They Reject the Proposed Sale to CoreWeave, issued 17-Oct-2025 by Two Seas Capital over PR Newswire, three charts were inadvertently excluded by PR Newswire. The release, with the accompanying charts and the full pdf letter, follows:\n Two Seas Capital Highlights Significant Value Upside for Core Scientific Shareholders If They Reject the Proposed Sale to CoreWeave\n \n Issues Letter to Shareholders Citing Market Evidence Demonstrating the Proposed Transaction Substantially Undervalues Core Scientific\n \n \n Urges Shareholders to Vote AGAINST the Proposed Transaction on the GOLD Proxy Card\n \n \n NEW YORK, Oct. 17, 2025 /PRNewswire/ -- Two Seas Capital LP (\"Two Seas\" or \"we\"), an alternative investment management firm and one of the largest shareholders of Core Scientific, Inc. (\"Core Scientific\" or the \"Company\") (NASDAQ: CORZ), today issued a letter to shareholders in connection with its opposition to the Company's proposed sale to CoreWeave, Inc. (\"CoreWeave\") (NASDAQ: CRWV) on the terms announced on July 7, 2025.\n \n \n \n \n \n \n \n The full text of the letter is below.\n * * *\n October 17, 2025\n Dear Fellow Core Scientific Shareholders:\n The accelerating AI build-out is driving insatiable demand for power and high-performance computing (\"HPC\") assets and shows no signs of slowing.\n Since Core Scientific and CoreWeave announced their intention to combine more than three months ago, there has been a wave of multi-billion-dollar deals1 involving hyperscalers, AI Labs, power companies, neoclouds, and data center companies (including former Bitcoin miners) like Core Scientific. The most recent came earlier this week, when a consortium of companies leading the AI revolution acquired a portfolio of data centers for $40 billion – among the largest data center deals ever.\n The unprecedented investment in the AI infrastructure build-out has led to a surge in the equity values of HPC data center companies. The stock prices of each of Core Scientific's three closest peers, Applied Digital, Cipher Mining and TeraWulf – each a former Bitcoin miner with HPC contracts – have approximately tripled since the announcement of the Company's proposed sale to CoreWeave, and nearly quadrupled since rumors of the propo...