VanEck Opposes Core Scientific Merger With CoreWeave Citing AI Potential

• VanEck now owns 2.2 million shares of Core Scientific and will vote against its merger with CoreWeave.
• The investment management firm cited AI infrastructure potential as the primary reason for opposing the merger,
• The firm added Core Scientific to its “laggards” list and sold its CoreWeave shares in the VanEck Onchain Economy ETF.

Matthew Sigel, head of digital assets research at VanEck, said Thursday that the firm now owns 2.2 million shares of Core Scientific (CORZ) and will vote against the company’s planned merger with CoreWeave (CRWV).

In morning trade, Core Scientific’s stock shares fell 2.7%, though retail sentiment on Stocktwits remained in ‘bullish’ territory, with chatter around the stock at ‘high’ levels over the past 24 hours. CoreWeave’s stock inched 0.6% higher, but retail sentiment shifted further into ‘bearish’ territory.

VanEck Cites AI Potential In Voting Against Merger

According to Sigel, VanEck’s decision to oppose the deal between CoreWeave and Core Scientific stems from its belief in Core Scientific’s AI potential. With its stake, VanEck is now the 28th-largest shareholder in CORZ. The firm has also added Core Scientific to its “laggards” list, signaling a strategic focus on potential long-term upside rather than immediate merger outcomes.

“We believe Core Scientific can help lead the next phase of AI infrastructure.” 

– Matthew Sigel, Head of Digital Assets Research, VanEck

In a separate post on X, Sigel noted that VanEck sold the CoreWeave shares previously held in its VanEck Onchain Economy ETF (NODE). NODE rose 1.3% in premarket trading, with retail sentiment around the ETF on Stocktwits largely in ‘neutral’ territory over the past day.

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