CoreWeave Grabs Core Scientific—Yet Rising Expenses Fuel Doubt
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CoreWeave Inc. has acquired Core Scientific Inc., expanding its capacity for high-performance computing and AI. However, rising operational costs raise concerns about the stock's value. Analyst Mike Cikos downgraded CoreWeave's rating from Buy to Hold, citing higher capital expenditures and a full stock valuation. Despite potential savings of $500 million in operating expenses, CoreWeave's shares fell by 3.8% to $147.11 following the announcement.
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