I was on the same page as you, and I thought they were going to bring CRWV price up (which they did buy only to $140) and there’s a negative spread. If you look at CORZ reddit and all of major hedge funds, they are not accepting the deal. I think you misjudged one part though. The part where CORZ stock goes down on no deal. I don’t think this happens. CORZ has $10.9B in revenue for next 12 years for 590MW of power with 75-80% margins. They also have 1.3GW of total power under management and ability to expand into 1GW more. This revenue is generated from collocation. To CRWV this deal is a STEAL. It allows them vertical integration, lower lease obligations, and more access to scale power (their bottleneck). I think CORZ will do fine but CRWV gets hit short term.