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Fast Company
27 minutes ago
- Fast Company
CRWV update: CoreWeave $9 billion data deal to buy Core Scientific sends both stocks tumbling
AI cloud computing giant CoreWeave announced on Monday it has signed a deal to acquire Core Scientific, a data center provider, in an all-stock deal valued at $9 billion. The news sent share of both companies tumbling in early trading on Monday, with CoreWeave (NASDAQ: CRWV) slightly recovering by midday, down almost 3%, while Core Scientific (NASDAQ:CORZ) remained in the red, down a staggering 16%. However, Core Scientific stock is still up about 25% since the deal was first reported by the Wall Street Journal last month, as noted by Investopedia. The deal, which is expected to close by the fourth quarter of 2025—subject to both regulatory approval, and approval from Core Scientific's stockholders—will enable CoreWeave to bring Core Scientific's nationwide data center infrastructure in-house, so it can support large-scale artificial intelligence development as it races to compete in the AI boom. 'This acquisition accelerates our strategy to deploy AI and HPC workloads at scale,' CoreWeave's CEO and co-founder Michael Intrator said in a statement. 'Verticalizing the ownership of Core Scientific's high-performance data center infrastructure enables CoreWeave to significantly enhance operating efficiency and de-risk our future expansion, solidifying our growth trajectory. Owning this foundational layer of our platform will enhance our performance and expertise as we continue helping customers unleash AI's full potential.' Both companies have a history of working together, and the deal follows a previous merger bid last year, which Core Scientific rejected on the grounds it was too low, per the Journal. The deal is forecast to save CoreWeave some $10 billion in future leasing contract costs from Core Scientific, according to Yahoo Finance. CoreWeave and Core Scientific by the numbers CoreWeave went public this past March in a highly anticipated initial public offering, which CNBC called the biggest venture-backed IPO for a U.S. company since 2021, following a long lapse of tech IPOs. In its March prospectus filing, the company, whose largest customer is Microsoft, reported a net loss of $863 million, with revenue growth of 737% last year to $1.92 billion. It has a market capitalization of $76.73 billion.
The Verge
27 minutes ago
- The Verge
Apple's latest AirPods are already on sale for $99 before Prime Day
Amazon Prime Day kicks off tomorrow, July 8th, but you don't have to wait until then to pick up Apple's latest pair of AirPods at a discount. Right now, the AirPods 4 are available for around $99 ($30 off) at Amazon, Best Buy, and Walmart, while the AirPods 4 with noise cancellation are going for around $149 ($30 off) at Amazon, Best Buy, and Walmart. That's within $10 of the lowest price we've seen on the ANC model and matches the lowest price to date on the base pair. Both versions of Apple's current-gen earbuds feature shorter stems and larger buds than previous models, allowing them to accommodate a broader range of ear shapes. The open-style earbuds use a hard plastic body that doesn't create a tight seal inside your ear, which means they sacrifice some bass response compared to gummy-tipped earbuds. Hardshell earbuds won't create pressure in your ear, though, which can feel uncomfortable after listening to music for a few hours. Overall, the fourth-gen AirPods sound better than previous models due to a custom amplifier and new acoustic architecture. Audio quality is somewhat subjective and largely depends on how the music was recorded, mixed, and mastered; however, former Verge staffer Chris Welch noted in his review that he was pleased with the sound of Apple's latest pair of wireless earbuds. If you're upgrading from an older pair, you'll notice a difference. The AirPods 4 run on Apple's H2 chip, which is required for Voice Isolation, a feature that reduces background noise and amplifies the volume of your voice during calls. If you're using an iPhone, you can say 'Hey Siri' to evoke Apple's smart assistant to place calls, hear and return messages, and play music. You can also locate the earbuds using the Find My app on Apple devices if they're misplaced. The entry-level model can last up to five hours on a single charge and can be fully charged five times using the included USB-C charging case (the ANC model also offers wireless charging). Both pairs of earbuds are also IP54-rated for dust, sweat, and water resistance, ensuring you can wear them safely during workouts. Needless to say, the AirPods 4 are excellent earbuds at their current price, whether you opt for the model with active noise cancellation or not. Sign up for Verge Deals to get deals on products we've tested sent to your inbox weekly.
Yahoo
28 minutes ago
- Yahoo
Dunmor Launches Wholesale Broker Division, Appoints Zeenat Zonte as EVP, and Positions for Market Expansion
LOS ANGELES, July 07, 2025--(BUSINESS WIRE)--Dunmor, a leading nationwide direct lender in residential transition loans unveils the official launch of its Wholesale Broker Division—marking a significant step forward in its strategic growth initiative. This new division aims to empower wholesale mortgage brokers by offering them the ability to provide residential transition loans to their clients, thereby expanding their service offerings in a competitive market. At the helm of the Wholesale Broker Division is Zeenat Zonte, newly appointed Executive Vice President. Zeenat brings a wealth of industry experience, including her previous roles as VP Correspondent Channel Manager at Newfi Wholesale and Director of Correspondent Lending at Civic Financial. She has a proven track record of building successful broker partnerships, positioning Dunmor for accelerated growth and expanded market reach. With this expansion, Dunmor significantly extends its internal capabilities, rolling out a diversified suite of loan programs designed to address the rapidly evolving needs of residential real estate investors. "I am thrilled to lead Dunmor's new Wholesale Broker Division and empower our broker partners with the tools and resources they need to succeed," said Zeenat Zonte, Executive Vice President of the Wholesale Broker Division. "Together, we will unlock new opportunities for growth and set a new standard for excellence in the wholesale lending space." Dunmor's Wholesale Broker Division is strategically designed to differentiate itself from competitors with its user-friendly, tech-enabled broker portal, streamlining processes and providing essential marketing tools. Brokers also benefit from hands-on training, ensuring they are confident and equipped to leverage Dunmor's resources effectively. "Launching our Wholesale Broker Division is a strategic step toward empowering brokers and delivering unparalleled solutions to investors," said Franck Ruimy, Founder & CEO of Dunmor. "We are setting the benchmark for excellence, transparency, and growth in private lending. Our data integration and technology ensure a user-friendly portal that streamlines processes and enhances broker efficiency." The Wholesale Broker Division offers a full suite of residential transition loan programs, including bridge loans, fix and flip loans, ground-up construction loans, and multifamily loans. Key benefits for broker partners include: Flexible Lending Solutions: Support for a wide range of investment strategies, helping brokers close deals quickly and confidently. Broker Protection: Transparent processes, rapid turnaround times, and competitive compensation. Dedicated Team: Personalized guidance from deal structuring through post-funding support. Dunmor's forward-thinking approach has earned recognition for delivering reliable, custom-tailored financing solutions since 2021. With the Wholesale Broker Division, the company continues to drive progress and create lasting value for partners and clients across the real estate investment landscape. For more information or to become a broker partner, visit View source version on Contacts Media Contact: Christen WongSVP of Marketing at Dunmor310.562.0225cwong@ Sign in to access your portfolio
