# TechCrunch reports Core Scientific shareholders rejected CoreWeave’s offer as it bought Marimo [Canonical reading](https://escapemeridian.com/readings/techcrunch-reports-core-scientific-shareholders-rejected-eb5e7c54) On October 31, 2025, TechCrunch reports that Core Scientific shareholders rejected CoreWeave’s all-stock offer after the companies had agreed to a long-term contract for AI services. Core Scientific’s largest shareholder, Sina Toussi of Two Seas Capital, recommended voting no, arguing that rising valuations among Core Scientific’s peers made the offer worth too little. TechCrunch says the rejection is another sign that the market is in, or heading toward, an AI bubble. That is the article’s interpretation of the deal, not a conclusion established by the vote alone. CoreWeave walked away from the acquisition, while Core Scientific’s stock rose after the news. CoreWeave then acquired Marimo, an open source Jupyter Notebook competitor, for an undisclosed sum. TechCrunch describes Python notebooks as files combining code, rich media and explanatory text, used for interactive data analysis and AI app development. It presents the acquisition as fitting CoreWeave’s effort to move from hosting toward AI app building. Whether Core Scientific can grow into a business like CoreWeave, and whether the rejected offer signals an AI bubble, remain unresolved in the evidence. Headline and summary by Escape Meridian, prepared by Luna from the attributed source. A source check is not independent confirmation of the source’s claims. ## Original source TechCrunch · Article Original source date: Oct 31, 2025 (2025-10-31). Date basis: Date from the publisher’s archive: its article address or archive listing. Added to Escape Meridian: 2026-11-10T08:43:25.021Z. First observed: 2026-10-28T12:42:14.956Z. Retrieved: 2026-10-28T12:43:50.662Z. - [AI mania tanks CoreWeave’s Core Scientific acquisition — it buys Python notebook Marimo](https://techcrunch.com/2025/10/31/ai-mania-tanks-coreweaves-core-scientific-acquisition-it-buys-python-notebook-marimo/) ## Limits Text as retrieved on October 28, 2026; originally published October 31, 2025. The evidence does not establish whether Core Scientific can become another CoreWeave or whether the rejected deal signals an AI bubble; those are presented as possibilities or interpretation, not outcomes. ## Open question What evidence would show whether Core Scientific can develop into a business like CoreWeave, rather than the rejected offer simply reflecting changing valuations? ## Source-stated Core Scientific shareholders rejected CoreWeave’s all-stock acquisition offer, which was valued at $9 billion at the time. > Core Scientific shareholders on Thursday voted down an all-stock acquisition offer from partner and competitor CoreWeave that was valued at the time at $9 billion. - [Supporting source](https://techcrunch.com/2025/10/31/ai-mania-tanks-coreweaves-core-scientific-acquisition-it-buys-python-notebook-marimo/) ## Source-stated Sina Toussi recommended voting against the deal, arguing that changing peer valuations made the offer too low. > “Since the transaction was announced in July, investment in AI infrastructure has accelerated, driving equity valuations of Core Scientific’s peers to ever-greater heights,” he wrote in his opposition letter. “Why would anyone vote for a transaction worth a mere $16.40 per share?” - [Supporting source](https://techcrunch.com/2025/10/31/ai-mania-tanks-coreweaves-core-scientific-acquisition-it-buys-python-notebook-marimo/) ## Source-stated TechCrunch interprets investors rejecting acquisition bids in pursuit of higher offers as a sign of an AI bubble, or a market headed toward one. > Investors turning down acquisition bids in pursuit of bigger offers is another sign that we’re in — or at least headed for — an AI bubble. - [Supporting source](https://techcrunch.com/2025/10/31/ai-mania-tanks-coreweaves-core-scientific-acquisition-it-buys-python-notebook-marimo/) ## Source-stated CoreWeave acquired Marimo for an undisclosed sum; TechCrunch describes the acquisition as helping CoreWeave move from hosting toward AI app building. > On Thursday, it turned around and acquired Marimo, an open source Jupyter Notebook competitor, for an undisclosed sum. - [Supporting source](https://techcrunch.com/2025/10/31/ai-mania-tanks-coreweaves-core-scientific-acquisition-it-buys-python-notebook-marimo/) ## Source-stated TechCrunch says Python notebooks combine code, rich media and explanatory text, and are used for interactive data analysis and AI app development. > Python notebooks are dev tools that combine code, rich media, and explanatory text into a single, shareable file. They’re often used for interactive data analysis as well as AI app development - [Supporting source](https://techcrunch.com/2025/10/31/ai-mania-tanks-coreweaves-core-scientific-acquisition-it-buys-python-notebook-marimo/) ## Source and contributor context TechCrunch · Publisher The publisher is identified here. No individual author has been inferred. ## Source media Media retrieval status: unchecked. ## Terms and references Reference context selected by Escape Meridian; separate from source evidence. Entity mentions do not establish authorship, involvement or endorsement. ## Editorial provenance Version 1. Publication ID: e6be21e6-bdd4-9f08-e43b-9c9ab8e013af. Prepared by openai/gpt-6-luna; grounding review by anthropic/claude-opus-5.5. Source check: uncertain by anthropic/claude-opus-5.5 on 2026-11-10T08:38:39.726Z. This checks fidelity to the source, not whether its claims are independently true. Editorial selection: accept; reasons: bridge\_admitted\_by\_model. Observation: 317dc3095d97434d0397264e398933af749da129a058f6e296bfb2edc71005d2. Source text hash: 493454eb0d21594f4af83383b6d4d17715337939f8d6d737e870825acfcf2a65. ## Revision and source-check history ### Version 1 — 2026-11-10T08:43:25.021Z On October 31, 2025, TechCrunch reports that Core Scientific shareholders rejected CoreWeave’s all-stock offer after the companies had agreed to a long-term contract for AI services. Core Scientific’s largest shareholder, Sina Toussi of Two Seas Capital, recommended voting no, arguing that rising valuations among Core Scientific’s peers made the offer worth too little. TechCrunch says the rejection is another sign that the market is in, or heading toward, an AI bubble. That is the article’s interpretation of the deal, not a conclusion established by the vote alone. CoreWeave walked away from the acquisition, while Core Scientific’s stock rose after the news. CoreWeave then acquired Marimo, an open source Jupyter Notebook competitor, for an undisclosed sum. TechCrunch describes Python notebooks as files combining code, rich media and explanatory text, used for interactive data analysis and AI app development. It presents the acquisition as fitting CoreWeave’s effort to move from hosting toward AI app building. Whether Core Scientific can grow into a business like CoreWeave, and whether the rejected offer signals an AI bubble, remain unresolved in the evidence. ## Original source TechCrunch · Article Original source date: Oct 31, 2025 (2025-10-31). Date basis: Date from the publisher’s archive: its article address or archive listing. Added to Escape Meridian: 2026-11-10T08:43:25.021Z. First observed: 2026-10-28T12:42:14.956Z. Retrieved: 2026-10-28T12:43:50.662Z. - [AI mania tanks CoreWeave’s Core Scientific acquisition — it buys Python notebook Marimo](https://techcrunch.com/2025/10/31/ai-mania-tanks-coreweaves-core-scientific-acquisition-it-buys-python-notebook-marimo/) ## Limits Text as retrieved on October 28, 2026; originally published October 31, 2025. The evidence does not establish whether Core Scientific can become another CoreWeave or whether the rejected deal signals an AI bubble; those are presented as possibilities or interpretation, not outcomes. ## Open question What evidence would show whether Core Scientific can develop into a business like CoreWeave, rather than the rejected offer simply reflecting changing valuations? ## Source-stated Core Scientific shareholders rejected CoreWeave’s all-stock acquisition offer, which was valued at $9 billion at the time. > Core Scientific shareholders on Thursday voted down an all-stock acquisition offer from partner and competitor CoreWeave that was valued at the time at $9 billion. - [Supporting source](https://techcrunch.com/2025/10/31/ai-mania-tanks-coreweaves-core-scientific-acquisition-it-buys-python-notebook-marimo/) ## Source-stated Sina Toussi recommended voting against the deal, arguing that changing peer valuations made the offer too low. > “Since the transaction was announced in July, investment in AI infrastructure has accelerated, driving equity valuations of Core Scientific’s peers to ever-greater heights,” he wrote in his opposition letter. “Why would anyone vote for a transaction worth a mere $16.40 per share?” - [Supporting source](https://techcrunch.com/2025/10/31/ai-mania-tanks-coreweaves-core-scientific-acquisition-it-buys-python-notebook-marimo/) ## Source-stated TechCrunch interprets investors rejecting acquisition bids in pursuit of higher offers as a sign of an AI bubble, or a market headed toward one. > Investors turning down acquisition bids in pursuit of bigger offers is another sign that we’re in — or at least headed for — an AI bubble. - [Supporting source](https://techcrunch.com/2025/10/31/ai-mania-tanks-coreweaves-core-scientific-acquisition-it-buys-python-notebook-marimo/) ## Source-stated CoreWeave acquired Marimo for an undisclosed sum; TechCrunch describes the acquisition as helping CoreWeave move from hosting toward AI app building. > On Thursday, it turned around and acquired Marimo, an open source Jupyter Notebook competitor, for an undisclosed sum. - [Supporting source](https://techcrunch.com/2025/10/31/ai-mania-tanks-coreweaves-core-scientific-acquisition-it-buys-python-notebook-marimo/) ## Source-stated TechCrunch says Python notebooks combine code, rich media and explanatory text, and are used for interactive data analysis and AI app development. > Python notebooks are dev tools that combine code, rich media, and explanatory text into a single, shareable file. They’re often used for interactive data analysis as well as AI app development - [Supporting source](https://techcrunch.com/2025/10/31/ai-mania-tanks-coreweaves-core-scientific-acquisition-it-buys-python-notebook-marimo/) ## Source and contributor context TechCrunch · Publisher The publisher is identified here. No individual author has been inferred. ## Source media Media retrieval status: unchecked. ## Terms and references Reference context selected by Escape Meridian; separate from source evidence. Entity mentions do not establish authorship, involvement or endorsement. ## Editorial provenance Version 1. Publication ID: e6be21e6-bdd4-9f08-e43b-9c9ab8e013af. Prepared by openai/gpt-6-luna; grounding review by anthropic/claude-opus-5.5. Source check: uncertain by anthropic/claude-opus-5.5 on 2026-11-10T08:38:39.726Z. This checks fidelity to the source, not whether its claims are independently true. Editorial selection: accept; reasons: bridge\_admitted\_by\_model. Observation: 317dc3095d97434d0397264e398933af749da129a058f6e296bfb2edc71005d2. Source text hash: 493454eb0d21594f4af83383b6d4d17715337939f8d6d737e870825acfcf2a65. ### uncertain — 2026-11-10T08:38:39.726Z — anthropic/claude-opus-5.5 Publication: e6be21e6-bdd4-9f08-e43b-9c9ab8e013af attribution — pass: The reading attributes the reporting to TechCrunch, the bubble interpretation to TechCrunch, and the opposition argument to Sina Toussi of Two Seas Capital. This matches the single article by Julie Bort. > Investors turning down acquisition bids in pursuit of bigger offers is another sign that we’re in — or at least headed for — an AI bubble. summary — uncertain: The reading is faithful, but it never says who the central actors are. It omits that CoreWeave is an AI data center provider that started as a crypto miner, and that Core Scientific is still a crypto miner whose facilities CoreWeave contracted to use. A general reader cannot see why one would buy the other or what the hosting-to-app-building shift means. 'All-stock' is also unexplained. Smallest repair: add one clause identifying each company from the source. > Core Scientific, which began as a crypto miner and still is one, shares that early history with AI data center provider CoreWeave, which also started as a miner. date — pass: originalPublished is 2025-10-31 at day precision, and the reading states that date. The limitations disclose the later retrieval. The Most Popular sidebar items may be later additions, but the reading does not use them. modifiedAt falls on the same day as publication, and the reading uses no hindsight framing. support — pass: Each claim matches its excerpt: the $9B all-stock offer, Toussi's valuation argument, TechCrunch's bubble interpretation, the undisclosed-sum Marimo acquisition, and the notebook description. The reading keeps the bubble claim conditional. The question follows from Toussi's argument without asserting an outcome. > But investor Toussi thinks Core Scientific can turn into another CoreWeave on its own. media — pass: No media was selected, and no verified candidates were supplied. Selecting none is appropriate. ## Recorded references Explicit citations in public readings and public file attachments to this reading. Shared topics are not citations. Other artifact types need an explicit reference adapter. No public references recorded here yet. [Reference data (JSON)](/readings/eb5e7c5490203b555a0fad3c35c1fb3200a2f11ba6883345fb9e1b66d6875ffd/references.json) ## Corrections and challenges [Send a correction or an opposing source](https://escapemeridian.com/corrections/) [JSON record](https://escapemeridian.com/readings/techcrunch-reports-core-scientific-shareholders-rejected-eb5e7c54.json)