Investment bank Macquarie has upgraded Core Scientific’s (CORZ) stock rating from ‘neutral’ to ‘outperform’ following the merger with Nasdaq-listed Bitcoin mining company CoreWeave (CRWV). The merger failed after facing shareholder opposition, leading to a nearly 90% increase in the target stock price, from $18 to $34. Following this news, Core Scientific’s stock saw a significant jump, soaring by 4.5% to approximately $21.7 in early trading. Analysts Paul Golding and Marni Lysaght pointed out that previous reports and proxy suggestions indicated shareholder disapproval of the merger, making its failure predictable. The analysts view this outcome as positive for Core Scientific, allowing it greater flexibility to lease its short-term power capacity to AI companies.