Deep Tide TechFlow News, on August 8, according to Prnewswire, Two Seas Capital, the largest active shareholder of Core Scientific (holding approximately 6.3%), announced on August 7 that it would vote against the merger transaction between Core Scientific and CoreWeave. Two Seas Capital believes that the all-stock transaction proposal significantly undervalues Core Scientific and that the lack of a price protection mechanism poses significant risks to shareholders.
Two Seas Capital pointed out that Core Scientific has significant advantages in the field of high-performance computing infrastructure, including economies of scale, low-cost power procurement capabilities, and a talent reserve in data centers. Against the backdrop of rapidly growing demand for computing power driven by the development of artificial intelligence, the company has good long-term development prospects, and there is currently no need to sell at an unreasonable valuation.