CoreWeave and Core Scientific are both down sharply since agreeing to merge.

The stock closed up 6.2% on the news. CoreWeave has been seeing scorching-hot growth since it pivoted its business model to AI infrastructure, providing computing capacity to companies like Microsoft, Nvidia, and OpenAI, and it needs new data centers to fuel that growth.

CoreWeave will unveil the project at a CEO roundtable with Trump during an Energy and Innovation Summit at Carnegie Mellon University.

CoreWeave will buy crypto miner Core Scientific in an all-stock deal valued at about $9 billion, it said on Monday, as AI infrastructure firms race to secure the energy and data center capacity needed to power surging demand.

C3.ai ( AI 3.98%) and CoreWeave ( CRWV 1.17%) are both poised to profit from the expansion of the artificial intelligence (AI) market. C3 develops AI algorithms and standalone modules that can be plugged into an organization's existing software infrastructure. CoreWeave's data centers provide cloud-based GPUs for processing AI tasks.

CoreWeave's $6 billion investment in Pennsylvania suggests there could be vast promise for AI data centers in a state already leading in energy production.