'REALLY EXCITED': Inside the CoreWeave stock deal

This is kind of part and parcel for the industry at large, right? It's going through this massive regrowth, building the cloud for this new generation, for artificial intelligence. And the ramifications of that are stocks like NVIDIA reaching, you know, untold heights in valuation as they deliver their infrastructure. When you look at us, you know, we've gone ahead and we have worked extensively with Core Scientific over the past five years. We did our first contract with them, I think, in 2018. We've built, you know, a really — so seven years. A really, really extensive relationship building out our infrastructure with them. Their company has evolved as our company has evolved into the AI space. And the ability to kind of work with them to in-source the physical infrastructure into our company will be accretive to our company for a very, very long time.

So because we are a tenant in their existing infrastructure, it will have an immediate impact on our margins. So the day that it closes, we're no longer paying rent to them, we in-source the company, and it will have an impact on the economics of our ability to distribute massive scale infrastructure. So we're really excited about it. We think it makes tremendous amount of sense. It gives us greater control over the infrastructure. It allows us to work more intimately down to the data center level, and we've really talked extensively about how you have to integrate, vertically integrate. And if, throughout the first half of this year and including the IPO, we went out and we acquired a company which is a software company that extends to the very, very top of the stack and allows the data scientists to look at their experiments. And we've also extended vertically down through the stack into Core Scientific which allows us to build the infrastructure that we have to deliver to our clients.

That's correct.

We kind of look at this from the perspective of both companies have made incredible progress over the past year building out infrastructure, securing transactions. We just did a $12 billion deal with OpenAI. You know, our company has made massive, massive steps forward in its journey just as Core Scientific has made massive steps forward in its journey.