内容来源：https://techcrunch.com/2025/10/31/ai-mania-tanks-coreweaves-core-scientific-acquisition-it-buys-python-notebook-marimo/

内容总结：

近日，美国区块链服务商Core Scientific股东投票否决了竞争对手CoreWeave提出的价值约90亿美元的全股票收购方案。这一决定主要受到其最大股东——专注破产重组企业的双海资本创始人Sina Toussi的反对意见影响。Core Scientific刚于2024年1月完成破产重组。

两家企业渊源颇深：最初均以加密货币挖矿业务起家，但CoreWeave在英伟达等合作伙伴支持下已转型为人工智能算力服务商。其股价自上市以来从140亿美元市值飙升至660亿美元，被市场视为AI热潮的受益者。

尽管CoreWeave此前已与Core Scientific签署了为期12年、价值100亿美元的AI服务设施租赁协议，且收购报价较当时股价存在溢价，但Toussi在致股东信中强调，随着AI基础设施投资热潮持续，同业企业估值水涨船高，当前每股16.4美元的收购价明显低估了公司潜力。

交易被拒后，Core Scientific股价应声上涨，市值升至66亿美元。而CoreWeave迅速转向收购开源开发工具商Marimo，以增强其AI应用开发能力。市场分析认为，此类拒绝收购、追求更高估值的行为，可能预示着AI领域已出现估值泡沫迹象。

中文翻译：

科睿科学公司股东于周四否决了合作伙伴兼竞争对手科睿威公司提出的全股票收购要约，该交易在当时估值达90亿美元。这一结果源于其最大股东——专注破产重组企业的双海资本创始人辛娜·图西——提出的反对表决建议。科睿科学刚于2024年1月完成破产重组。

作为加密货币挖矿起家的企业，科睿科学至今仍保留该业务，这与同样发轫于矿业的AI数据中心运营商科睿威有着共同渊源。但科睿威在投资方兼合作伙伴英伟达的支持下，现已转型为AI算力服务商。自首次公开募股至今，其市值从140亿美元飙升至660亿美元（约合每股140美元），投资者将其视为布局AI领域的重要通道。该公司正持续通过增发股票推进收购战略。

尽管科睿威已于七月敲定全面收购科睿科学的协议，但此前双方已签署为期12年、价值100亿美元的AI服务设施使用合约。该收购报价较当时科睿科学股价存在溢价。但投资者图西认为科睿科学具备自主成长为第二个科睿威的潜力，她在反对意见书中指出："自七月交易公布以来，AI基础设施投资持续加速，推动同业企业估值屡创新高。股东怎会接受折合每股仅16.4美元的交易方案？"

最终投资者否决交易导致科睿威放弃收购。消息公布后科睿科学股价应声上涨，当前市值已达66亿美元。

【加入Disrupt 2026预登记名单】
即刻预约Disrupt 2026早鸟票优先购票资格。往届大会曾汇聚谷歌云、网飞、微软、Box、Phia、a16z、ElevenLabs、Wayve、Hugging Face、埃拉德·吉尔与维诺德·科斯拉等250余位行业领袖，打造200多场赋能企业进阶的深度对话。更有跨越各领域的数百家创新初创企业等待连接。

投资者为寻求更高报价拒绝收购要约的现象，再度印证我们已身处——或正迈向——AI产业泡沫期。

与此同时，科睿威仍在持续拓展业务版图。周四该公司转而收购了开源项目Jupyter Notebook的竞品Marimo，交易金额未公开。据PitchBook估算，Marimo此前融资总额约500万美元。Python笔记本作为开发工具，可将代码、富媒体与说明文本整合为可共享文件，广泛应用于交互式数据分析及AI应用开发领域，这将助力科睿威实现从基础设施托管向AI应用开发的全链路升级。

英文来源：

Core Scientific shareholders on Thursday voted down an all-stock acquisition offer from partner and competitor CoreWeave that was valued at the time at $9 billion.
They did so following a vote-no recommendation from their largest shareholder, Sina Toussi of Two Seas Capital, a firm that focuses on post-bankruptcy companies. Core Scientific emerged from its bankruptcy in January 2024.
Core Scientific, which began as a crypto miner and still is one, shares that early history with AI data center provider CoreWeave, which also started as a miner.
But CoreWeave, with investor and partner Nvidia, has now transitioned to serving AI workloads. From its IPO until now, its stock has soared from a $14 billion market cap to $66 billion today (about $140 per share) as investors view it as a way to get in on the AI action. It has been spending those shares on acquisitions.
CoreWeave had already signed a $10 billion, 12-year contract with Core Scientific to use its facilities for AI services, even as it nailed down a deal announced in July to buy the company outright. The offer was a premium to Core Scientific’s share price at the time.
But investor Toussi thinks Core Scientific can turn into another CoreWeave on its own. “Since the transaction was announced in July, investment in AI infrastructure has accelerated, driving equity valuations of Core Scientific’s peers to ever-greater heights,” he wrote in his opposition letter. “Why would anyone vote for a transaction worth a mere $16.40 per share?”
So investors turned down the deal and CoreWeave walked. Core Scientific’s stock rose on the news, and the company is now trading at a $6.6 billion market cap.
Join the Disrupt 2026 Waitlist
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Join the Disrupt 2026 Waitlist
Add yourself to the Disrupt 2026 waitlist to be first in line when Early Bird tickets drop. Past Disrupts have brought Google Cloud, Netflix, Microsoft, Box, Phia, a16z, ElevenLabs, Wayve, Hugging Face, Elad Gil, and Vinod Khosla to the stages — part of 250+ industry leaders driving 200+ sessions built to fuel your growth and sharpen your edge. Plus, meet the hundreds of startups innovating across every sector.
Investors turning down acquisition bids in pursuit of bigger offers is another sign that we’re in — or at least headed for — an AI bubble.
Meanwhile, CoreWeave is still shopping. On Thursday, it turned around and acquired Marimo, an open source Jupyter Notebook competitor, for an undisclosed sum. PitchBook estimates Marimo has raised about $5 million.
Python notebooks are dev tools that combine code, rich media, and explanatory text into a single, shareable file. They’re often used for interactive data analysis as well as AI app development, helping CoreWeave as it attempts to move up the stack from hosting to AI app building.