CoreWeave’s CEO said the acquisition will enhance the company’s performance and expertise as they "continue helping customers unleash AI’s full potential."

The $9 billion deal is a play on AI power needs, but one analyst thinks the purchase price undervalues Core Scientific’s business and potential.

CoreWeave will buy crypto miner Core Scientific in an all-stock deal valued at about $9 billion, it said on Monday, as AI infrastructure firms race to secure the energy and data center capacity needed to power surging demand.