CoreWeave CEO Michael Intrator has described the company’s proposed $9 billion acquisition of Core Scientific as a “nice to have” rather than a strategic necessity, signaling a more measured stance as shareholder opposition to the deal intensifies.

Speaking to CNBC on Tuesday, Intrator reaffirmed his belief that the acquisition remains in the long-term interest of Core Scientific shareholders but made clear that CoreWeave will not increase its offer. “We think that the bid that we put out there for [Core Scientific] is a fair representation of the relative value of the two companies as an all-stock deal,” he said. “We are going to just kind of proceed as we have, in the event that the transaction does not go through. It is a nice to have, not a need to have for us.”

The acquisition proposal, first announced in July, involved an all-stock transaction valued at approximately $9 billion, aimed at merging CoreWeave’s AI-focused cloud computing infrastructure with Core Scientific’s Bitcoin mining and data center operations. However, market reaction to the news was immediate and negative — Core Scientific’s shares fell nearly 18% following the announcement, raising questions about investor confidence in the deal’s valuation.

The situation intensified this week after Institutional Shareholder Services (ISS), a leading proxy advisory firm, recommended that Core Scientific shareholders vote against the acquisition. ISS argued that Core Scientific’s rising stock price since the announcement indicates that the market values the company higher than CoreWeave’s offer.

“I’m disappointed by the ISS report,” Intrator said, maintaining that the offer remains fair. “Everything has a value, and the number we put out is the value we’re willing to pay for them under all circumstances.”

Adding to the tension, Two Seas Capital, one of Core Scientific’s major shareholders, publicly opposed the acquisition earlier this month. In a letter to shareholders, the firm criticized the proposed price as “too low,” urging investors to reject what it called an “underwhelming deal.” “We see no reason why Core Scientific shareholders should accept such an underwhelming deal,” the letter stated. “Based on recent trading data, we see little evidence that they will.”

Shareholders are set to vote on the deal on October 30, a decision that could shape the future direction of both companies.

Meanwhile, CoreWeave has been in an aggressive expansion phase throughout 2025, acquiring several AI-related companies including OpenPipe, Weights & Biases, and Monolith, as part of its push to broaden its cloud services and data infrastructure capabilities.

The New Jersey-based company, which operates Nvidia-powered data centers serving hyperscale clients like Microsoft, has been riding the global surge in artificial intelligence investments. “We’ve been in acquisitive mode as we continue to build and extend the functionality of our company,” Intrator said, emphasizing that CoreWeave’s growth momentum will continue regardless of the outcome of the Core Scientific deal.

As the October 30 shareholder vote approaches, market watchers will be closely monitoring whether Core Scientific investors align with Intrator’s long-term vision or side with critics who view the offer as undervaluing the company’s potential in the fast-evolving digital infrastructure sector.