Yazılar

Core Scientific urges shareholders to approve $9 billion CoreWeave merger

/in /tarafından

Core Scientific’s board has called on shareholders to vote in favor of its proposed $9 billion all-stock sale to CoreWeave, saying the merger would deliver long-term growth and risk reduction benefits for the crypto miner.

In an investor presentation released Wednesday, the board said it had “unanimously determined” that the deal represented the best outcome for all shareholders. The merger, announced in July, values Core Scientific at $20.40 per share and would combine its energy-intensive mining infrastructure with CoreWeave’s AI-focused data center network.

The deal promises significant cost savings, operational synergies, and improved access to capital, according to the company. CoreWeave, a fast-growing cloud provider powered by Nvidia AI chips, would integrate Core Scientific’s facilities to support large-scale AI model training — an increasingly valuable use case as demand for compute power surges.

However, the proposal faces pushback from Two Seas Capital, Core Scientific’s largest shareholder with a 6.3% stake, which said it plans to vote against the deal, arguing it “materially undervalues” the company and poses “substantial economic risk” to investors.

Core Scientific said the transaction would help it diversify beyond cryptocurrency mining and strengthen its position in the fast-growing AI infrastructure market.

Microsoft raises Wisconsin data center investment to $7 billion with new AI hub

/in /tarafından

Microsoft (MSFT.O) announced Thursday that it will build a second large-scale artificial intelligence data center in Wisconsin, boosting its total investment in the state to more than $7 billion.

The $4 billion facility will be built alongside a $3.3 billion data center in Mount Pleasant, unveiled last year. The first site remains on track to open in 2026, employing about 500 people at its peak. Once the second center is completed, total employment is expected to reach about 800.

Microsoft said the expanded site will ultimately host the world’s most powerful AI supercomputer, linking together hundreds of thousands of Nvidia (NVDA.O) chips.

The Racine County location, between Milwaukee and Chicago, has been a political focal point since former President Donald Trump promoted Foxconn’s plan for a $10 billion factory there—a project later drastically downsized. At the launch of Microsoft’s first data center last year, President Joe Biden pointed to Foxconn’s retreat while emphasizing Microsoft’s long-term commitment.

To support the new project, Microsoft said it will pre-pay for electrical infrastructure to prevent higher utility rates in the region. The company will also deploy a state-of-the-art cooling system that leverages Wisconsin’s cool climate, reducing annual water consumption to that of an average restaurant. Solar power will be built elsewhere in the state to offset the data centers’ electricity use, though Microsoft President Brad Smith acknowledged that new fossil fuel generation, including liquefied natural gas, will also be required.

Smith said while permanent jobs will number in the hundreds, construction will create thousands of positions for skilled workers such as electricians and pipefitters. “All the things that we build need to be operated,” he told Reuters. “It needs to be maintained. These are good jobs.”

Super Micro’s Quarterly Results Disappoint, Shares Drop Nearly 15.5%

/in /tarafından

Super Micro (SMCI.O) missed Wall Street estimates for its fourth-quarter revenue and profit, as the company faces stiff competition from larger server manufacturers in the AI-driven high-performance computing market. Shares plunged about 15.5% in extended trading following the earnings release and multiple downward revisions to its full-year guidance.

The company now forecasts at least $33 billion in revenue for fiscal year 2026, falling short of its earlier target of around $40 billion set in February. Analyst expectations averaged $29.94 billion, according to LSEG data.

Despite gains in the competitive server market, Super Micro is losing ground to industry giants such as Dell Technologies (DELL.N) and HP Enterprise (HPE.N), which benefit from larger customer bases. Analyst Gil Luria of D.A. Davidson suggested customers prefer servers from these bigger players amid strong market demand.

Dell raised its annual profit forecast, and HP Enterprise beat second-quarter revenue and profit estimates, underscoring Super Micro’s challenges. CEO Charles Liang noted improved chip availability expected in the fiscal year ahead, following previous delays in Nvidia (NVDA.O) processor supplies that hurt recent quarters.

Super Micro’s shares have surged about 90% this year amid excitement over AI server demand and innovative cooling technologies. However, as Kim Forrest of Bokeh Capital Partners explained, investor enthusiasm for AI-related firms means any softness can trigger sharp sell-offs.

For the quarter ended June 30, Super Micro posted revenue of $5.76 billion, below the $5.89 billion consensus, and adjusted earnings per share of 41 cents, missing estimates of 44 cents due in part to tariff impacts.