Tag: Business Insider

AIBusiness

CoreWeave’s $5 Billion Core Scientific Acquisition Faces Mounting Shareholder Opposition

CoreWeave’s ambitious $5 billion acquisition of Core Scientific faces mounting opposition from major shareholders ahead of a critical October 30 vote. Gullane Capital, the third-largest shareholder, has joined other investors in rejecting the current terms, citing valuation concerns and structural issues with the stock conversion deal.

Major Shareholder Joins Opposition to CoreWeave’s Acquisition Plan

A $5 billion merger crucial to CoreWeave‘s expansion in the artificial intelligence sector faces increasing uncertainty as another major investor has announced opposition to the deal. According to reports, Trip Miller, founder of Gullane Capital and the third-largest shareholder in Core Scientific, stated he would vote against the proposed acquisition by rival data center firm CoreWeave.

by Natalie Brooks
AIBusiness

Former Meta Executive Warns AI Sector Showing Bubble Characteristics, Potential Correction Ahead

Former Meta executive Nick Clegg has raised concerns about potential AI market correction, citing “crazy valuations” and unsustainable dealmaking pace. The industry veteran pointed to massive capital requirements and technical limitations as factors increasing correction likelihood.

AI Investment Boom Shows Signs of Market Bubble, Former Meta Executive Warns

Former Meta Platforms executive Nick Clegg has expressed concerns that the artificial intelligence sector may be headed for a market correction, according to recent reports. The former president of global affairs at Meta reportedly told CNBC that the AI industry “certainly got some pretty prominent features of what looks like a bubble.”

by Darren Holt