Proxy Firms Tip the Scales
The momentum against the merger grew even stronger after Institutional Shareholder Services Inc. (ISS) and Glass Lewis & Co., two major proxy advisory firms, both recommended shareholders vote “no.” Their influence proved pivotal, providing legitimacy to investor concerns that Core Scientific was underselling itself.
Two Seas Capital hailed the final outcome, declaring it a victory for shareholders and the future of Core Scientific as an independent AI infrastructure leader.
CoreWeave Keeps Its Eyes on the Horizon
CoreWeave CEO Michael Intrator took a measured tone in response to the rejection, saying,
“We respect the views of Core Scientific stockholders and look forward to continuing our commercial partnership. Our strategy remains unchanged.”
He added that CoreWeave will continue to pursue growth through “opportunistic and strategic M&A,” underscoring the company’s long-term plan to dominate high-performance computing and AI-driven cloud services.
The final voting results are expected to be filed with the U.S. Securities and Exchange Commission (SEC) in the coming days.
