The $9 billion deal is a play on AI power needs, but one analyst thinks the purchase price undervalues Core Scientific’s business and potential.

CoreWeave (NASDAQ:CRWV) saw its rating cut at several brokerage firms after the company announced on Monday that it was acquiring Core Scientific (NASDAQ:CORZ) in an all-stock deal implying a total equity value of about $9B.

Coreweave is acquiring the data center infrastructure provider Core Scientific in a $9 billion all-stock transaction.