Shares of Nvidia retreated in early trading Thursday, a day after the company's market cap topped $3 trillion.
Stock Market Today: The Dow Jones rose Thursday on surprise weekly jobless claims. Nvidia stock reversed lower after hitting record highs.
"The board determined that the CoreWeave proposal significantly undervalues the company and is not in the best interests of the company and its shareholders," Core Scientific said in a statement. Core Scientific received an unsolicited non-binding proposal from CoreWeave on June 3 to acquire all of the company's outstanding shares on a fully diluted basis for $1.02 billion or $5.75 per share in cash.