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J. Edward Moreno6/26/25

CoreWeave in talks to acquire Core Scientific: Report

Core Scientific is surging, up 27% in afternoon trading after The Wall Street Journal reported that CoreWeave is in talks to acquire it.

A deal for Core Scientific, which provides infrastructure for AI and cryptocurrency mining, could be finalized "in the coming weeks," the Journal reported. It also said details about a potential deal remain unclear.

CoreWeave tried to buy Core Scientific last year for $5.75 a share, but Core Scientific rejected the offer as too low. The stock has soared since then and was trading in the $12 range until the most recent report vaulted the stock above $15.

CoreWeave, meanwhile, pulled off one of the first major IPOs of the current AI boom, going public in March of this year. The stock has surged nearly 300% since its IPO. In case you’re wondering what CoreWeave actually does, we’ve got you covered.

The Journal reports that the two companies have worked together for years and announced a series of contracts where Core Scientific would get billions of dollars worth of business from CoreWeave.

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D-Wave Quantum reports lower-than-expected Q1 sales, though backlog booms on major deals

Bookings at the end of Q1 were $33.4 million, up from $13.4 million in Q4 and $1.6 million a year ago.

Julich Research Center Inaugurates Europe's First 5,000+ Qubit Quantum Computer

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eBay rejects Gamestop’s unsolicited $56 billion takeover bid, calls it “neither credible nor attractive”

eBay rejected GameStop’s high-profile takeover proposal Tuesday, calling the bid “neither credible nor attractive” in a short letter from the online marketplace’s board of directors.

Earlier this month, GameStop CEO Ryan Cohen made the unsolicited offer, valuing eBay at about $56 billion — roughly 5x GameStop’s ~$11 billion market cap at the time — in a half-cash, half-stock deal.

In its rejection letter, eBay’s board cited “uncertainty” around GameStop’s financing proposal, the “leverage” and “operational risks” of a combined company, as well as GameStop’s “governance and executive incentives.”

That last concern is already drawing scrutiny, with Cohen facing questions over whether an eBay deal could affect his proposed GameStop pay package. Indeed, the video game and collectibles retailer filed a preliminary proxy statement with the SEC yesterday, asking shareholders to approve Cohen’s new pay package and authorize more shares. Under his new compensation package, Cohen's financial interests are entirely tied to those of shareholders, with cumulative awards at different market cap and EBITDA thresholds.

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GitLab falls on workforce reduction plan tied to “agentic era”

It can be pretty jarring, and it certainly makes for an uncomfortable internal vibe, when stocks soar after a company announces a swathe of job cuts. Fewer employees mean lower costs, and likely stronger earnings for shareholders.

But in the age of AI, the market's reaction to a round of layoffs has become less predictable. If investors already rate your company an AI-winner, or even if it's seen to have the potential to benefit from AI, the market tends to reward AI-linked job cuts in a "wow, you're so efficient and innovative" kind of way (See: Block, Coinbase, and Snap). But, if there's even a whiff of AI threatening your business, AI-related job cuts are seemingly interpreted as an admission of weakness — which is exactly the case for GitLab this morning.

Shares in the company are down nearly 9% in premarket trading Tuesday after the software development platform announced a restructuring plan amid what CEO Bill Staples called the “agentic era.”

In a memo to employees and investors, Staples said the company is planning a “workforce reduction” as part of a restructuring it expects to finalize on or before June 1. The plan includes reducing its country footprint by up to 30%, removing up to three layers of management in some functions, reorganizing R&D into roughly 60 smaller teams, and using AI agents to automate internal reviews, approvals, and handoffs. The company did not specify how many jobs would be affected.

Staples said the process will happen “openly,” including a voluntary separation window.

GitLab sells a software-development platform that helps companies manage code from planning and review to testing, security, and release — a workflow AI agents are beginning to automate.

The company reaffirmed its Q1 and full-year fiscal 2027 guidance, adding that the final scope and financial impact of the restructuring will be shared on its June 2 earnings call, after approval by the board.

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GameStop briefly spikes as tweets from @TheRoaringKitty, aka Keith Gill, appear then disappear on X

Shares of GameStop briefly mooned after hours before erasing the entire advance after posts from @TheRoaringKitty appeared, then disappeared from the social media platform X.

@TheRoaringKitty is the account associated with Keith Gill, the messiah of GameStop’s meme-stock moment in 2021 who returned in 2024 to kick off another parabolic rally in the shares.

The tweets came and went before I could lay eyes on them, but Bloomberg tells me there was “one depicting a cat, and another with a picture of the online character Pepe the Frog wearing Roaring Kitty’s trademark red bandanna” around 5:40 p.m. ET. A screenshot posted of one tweet showed that it included a string of text (ending in “pump”) that appears to be the wallet address for a meme coin called “Red Kitten Crew.”

The market cap of the coin briefly jumped to about $12 million around the time of that tweet before cratering to about $2.6 million thereafter.

The emergent consensus on the r/Superstonk subreddit, which is dedicated to discussions of GameStop, is that the account was hacked. The more tinfoil-hatted members, meanwhile, are suggesting that not only is this a hack, but a hack intended to somehow thwart GameStop’s attempt to purchase eBay.

And on that note, GameStop also released a filing after the close of its letter to shareholders regarding their upcoming annual meeting, asking them to approve CEO Ryan Cohen’s proposed pay package as well as an increase in the authorized share count, which is one of the hurdles that would be need to be cleared in order to complete the deal with eBay.

Anyways, all these hacked account scams on X are really interfering with my ability to get people to vote for me to be a major podcast host.

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Power Solutions International mysteriously craters ahead of earnings, then tumbles more after earnings too

Shares of Power Solutions International are extending losses in postmarket trading after the engine- and power-system provider released its Q1 results.

Revenues of $128.6 million came in shy of the consensus call for $161 million, and operating income of $11.4 million was less than half of the anticipated $23.7 million.

(Granted, there were only two estimates available here.)

But the curious thing is... traders didn’t wait until these underwhelming results were released to dump the stock.

Up until about 12:10 p.m. ET, volumes were tracking above their 5-day average, but nothing too abnormal. In the 20-minute span after that — with no reported news on any wires — shares tumbled on 40 times their average volume for that time of day.

The stock finished down 17.7% in regular trading, and extended that loss to down 50% as of 5:05 p.m. ET.

Suffice it to say, this isn’t normal.

Companies operating in a similar segment of the market, like Cummins or Generac Holdings, didn’t suffer a similar intraday swoon.

While other power providers are visibly cashing in on the AI boom and offering robust outlooks tied to data center demand, Power Solutions’ management was reluctant to pencil in anything forward-looking on that front.

“The Company continues to see strong demand for data center power solutions, and expects sales to increase in the second half of 2026,” per the press release. “However, the timing and ultimate volume of related shipments remain subject to customer scheduling, manufacturing throughput, supply-chain factors, and other variables, and the Company is not predicting any specific level of data center revenue in any future period.”

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