Bitcoin News Update: Unsuccessful CoreWeave Deal Highlights Core Scientific's AI Capabilities, Macquarie Raises Rating

Core Scientific (NASDAQ: CORZ) has received an "Outperform" rating from

after its planned $9 billion merger with AI cloud company (NASDAQ: CRWV) fell through. Macquarie also increased its price target for Core Scientific to $34, up from $18. The merger, which shareholders rejected on October 30 according to , has led analysts to become more optimistic about Core Scientific’s prospects as an independent player in the rapidly growing AI data center sector.

The merger, first revealed in July 2025, encountered persistent resistance from key shareholders and proxy advisors.

, which owns 6% of Core Scientific, repeatedly argued that the deal undervalued the company’s assets and growth potential, and . They claimed Core Scientific’s shares could be worth more than double the $16.40 per share offered if valued similarly to other AI infrastructure firms. Both Institutional Shareholder Services (ISS) and Glass Lewis advised against the merger, pointing to risks associated with CoreWeave’s unstable stock.

The rejection was a turning point for

, which has into a provider of high-performance computing (HPC) and AI infrastructure. Analysts have taken note of the company’s 700-megawatt development pipeline and access to affordable energy. H.C. Wainwright and Roth/MKM have also raised their price targets to $25 and $23.50, respectively, while Cantor Fitzgerald set its target at $26.

CoreWeave’s CEO

responded to the failed deal by saying the company respects the shareholders’ choice and will maintain its business relationship with Core Scientific. The collapse of the merger has created new possibilities for Core Scientific to lease its infrastructure to AI clients, a move analysts believe could be more profitable than the original all-stock agreement. Jefferies noted that landing a major new client would be a significant step in broadening Core Scientific’s revenue base. The shareholder vote that ended the $9 billion merger was also covered by .

From a financial perspective, Core Scientific has demonstrated stability. Although it posted a net loss of $146.7 million in the third quarter, this was a substantial improvement from the $455.3 million loss a year earlier. The company also reported $694.8 million in liquidity, including $241 million in

reserves. Its share price hit a in October, showing that investors are confident in its dual focus on cryptocurrency mining and AI infrastructure.

reflects a wider belief in the market that Core Scientific is stronger on its own. The firm highlighted Core Scientific’s ability to quickly allocate power capacity to AI customers, which is a key advantage in the fast-growing neocloud industry. Macquarie analysts wrote, "With the CoreWeave deal off the table, is now well-placed to attract new clients and boost shareholder returns through leases that generate EBITDA."

As the AI data center industry is expected to expand rapidly, Core Scientific’s independent approach could be highly rewarding. Its ongoing partnership with CoreWeave—where it hosts 270 megawatts of NVIDIA GPU clusters—remains in place, ensuring steady income while the company seeks additional opportunities.