Barclays constructive on CoreWeave’s acquisition of Core Scientific

Barclays analyst Raimo Lenschow notes that CoreWeave (CRWV) formally announced its intent to acquire Core Scientific (CORZ) in an all-stock transaction. The firm is constructive around the opportunity to vertically integrate data center operations, and believes the deal will give CoreWeave ample visibility into future HPC data center buildouts. Barclays has an Equal Weight rating on CoreWeave with a price target of $100.