Jim Cramer has a 'very positive' response to new acquisition deal
On July 7, the Nvidia (Nasdaq: NVDA)-backed AI cloud infrastructure company CoreWeave (Nasdaq: CRWV) announced the acquisition of the Bitcoin mining firm Core Scientific (Nasdaq: CORZ).
However, the announcement didn't go down well with the trading community. CRWV stock fell more than 3% to close at $159.70 and CORZ stock fell more than 17% to close at $14.83 on the day the deal was announced.
Jim Cramer, host of CNBC's popular TV show "Mad Money," was, however, quick to jump in and offer his hot take on the implications of the acquisition on CoreWeave's performance.
Cramer found the development "very positive" for the AI company.
Coreweave is truly something... Very positive
— Jim Cramer (@jimcramer) July 7, 2025
The analyst said though a few firms have downgraded CoreWeave, the demand is "ridiculously high," and it's great for data centers and Nvidia.
Join the discussion with Scott Melker on Roundtable here.
CoreWeave CEO Michael Intrator joined Cramer on "Mad Money" on July 7. CoreWeave and Core Scientific have been working together for an extremely long time, the first contract between the two dating back to 2018, the CEO told Cramer.
The deal became an opportunity to bring Core Scientific under the same tent to build a larger company that's capable of building and extending offerings that CoreWeave brings to the most demanding AI clients in the world, Intrator added.
CoreWeave will disgorge Core Scientific of its crypto-only assets that they feel can't be efficiently or economically converted into high-performance computing (HPC), Intrator told Cramer.
CoreWeave's $9 billion all-stock acquisition deal is part of the broader trend among AI companies battling to secure power-rich infrastructure to run skyrocketing computational needs.
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