CoreWeave Shares Fall 6% as NextEra Acquires Dominion for $67B
CRWV•NextEra Energy will acquire Dominion Energy in a $67 billion all-stock deal, forming the world's largest regulated electric utility by market value. D.A. Davidson assigned CoreWeave a Neutral rating with a $100 price target, down from $175, driving the stock roughly 6% lower.
1. NextEra-Dominion Transaction Details
NextEra Energy will acquire Dominion Energy in an all-stock transaction valued at nearly $67 billion, creating the world’s largest regulated electric utility by market capitalization.
2. Impact on AI Data Center Electricity
The merger brings Dominion’s major data center customers—including Amazon, Alphabet, Microsoft, Meta and CoreWeave—under NextEra’s power supply network, supporting surging AI compute demand and expanding NextEra’s footprint in high-growth markets.
3. D.A. Davidson Rating Cuts CoreWeave
Analyst Gil Luria initiated coverage of CoreWeave with a Neutral rating, lowering its price target from $175 to $100 due to concerns over thin margins, debt financing and insider selling, prompting a roughly 6% drop in the share price.
