Core Scientific Expands Data Center Sites to Meet Rising AI Demand Amid Higher Construction Costs
Core Scientific is expanding five new data center sites and has raised capital to fund equity needs, secure contractors, and lock in equipment for long-term artificial intelligence infrastructure contracts. CEO Adam Sullivan highlighted the evolving nature of AI demand and construction requirements, with rising build costs now reaching $11.5 million to $12 million per megawatt due to labor inflation and switchgear shortages.
Tickers: $CORZ
Topics: AI infrastructure capital raise construction costs data centers