After The Wall Street Journal reported that CoreWeave (CRWV) is in talks to acquire Core Scientific (CORZ), Jefferies analyst Jonathan Petersen contends that the combination of the two “makes strategic sense” as it would allow CoreWeave to vertically integrate its infrastructure, reduce operating expense and use the Core Scientific platform to grow its data center development pipeline. The firm, which estimates a potential takeout value range of $16-$23, has a Buy rating and $16 price target on Core Scientific shares and a Buy rating and $180 price target on CoreWeave.

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