CoreWeave's planned acquisition of data center provider Core Scientific has been brought to a sudden stop.

An SEC filing from Core Scientific published today, October 30, stated that at a "special meeting" to discuss the acquisition, the "requisite Company stockholders did not approve the Merger Agreement Proposal."

It added: "As a result, on October 30, 2025, pursuant to and in accordance with the Merger Agreement, Core Scientific terminated the Merger Agreement, effective immediately."

The so-called "Merger Agreement" was made by Core Scientific and CoreWeave on July 7, and would have seen AI cloud firm CoreWeave acquiring Core Scientific and its 1.3GW of data center capacity for $9bn in an all-stock transaction.

Under the terms of the merger agreement, Core Scientific stockholders were to receive 0.1235 newly issued shares of CoreWeave Class A common stock for each share of Core Scientific common stock. On close, Core Scientific’s stockholders would have owned less than 10 percent of the combined company.

While CoreWeave has been keen for the acquisition to go through, Core Scientific shareholders swiftly showed dissatisfaction with the deal. In August, Core Scientific's largest shareholder, Two Seas Capital, released a statement coming out against the planned acquisition, later filing a proxy statement to the Securities and Exchange Commission (SEC) detailing its stance.

Two Seas has consistently called for fellow shareholders to join it in opposing the merger, repeatedly arguing that it undervalues Core Scientific and describing the deal as "poorly structured." This was later backed up by an independent proxy advisory firm, Institutional Shareholder Services Inc. (ISS).

CoreWeave has previously declined to comment to DCD on Two Seas' efforts to prevent the acquisition, however, CEO Michael Intrator told CNBC earlier this month that the company was disappointed by the ISS report. He added that he continued to believe that the deal would be “in the long-term interest of Core Scientific shareholders.”

During that interview, Intrator implied that the company was unwilling to increase its offer for CoreWeave, saying: "Everything has a value, and the number we put out is the value we’re willing to pay for them under all circumstances.”

With the acquisition now officially off the table, CEO Intrator issued a statement reading: "We respect the views of Core Scientific stockholders and look forward to continuing our commercial partnership. CoreWeave’s strategy remains unchanged. We will continue to execute with discipline against our roadmap to create long-term shareholder value, including through opportunistic and strategic M&A.”

DCD has followed up with Core Scientific for further comment.

Following the vote, Core Scientific shares fell 2.5 percent, and CoreWeave dropped 3.5 percent.

CoreWeave previously made a bid for Core Scientific in 2024, offering $1bn for the company. This was swiftly rejected by Core Scientific, which said the bid “significantly undervalued” the company.