Core Scientific Q2 Revenue Doubles Amid AMD Partnership Expansion
Core Scientific (NASDAQ: CORZ) reported a significant revenue increase for its second quarter, with $164.2 million in earnings—a 109% rise from the previous year—driven largely by growth in colocation services. The company announced an expanded partnership with AMD that could support up to 2.5 GW of leasable capacity across five sites under long-term contracts potentially generating over $14 billion in base revenue. Colocation now represents Core Scientific’s largest business, contributing $136.7 million in Q2 compared to just $10.6 million a year earlier. The firm also noted an increase in billing capacity from 225 MW at the end of Q1 to 437 MW by mid-July, translating into roughly $635 million in average annualized colocation GAAP revenue. Despite strong top-line growth and improved gross profit ($70 million vs. $5 million), Core Scientific reported a net loss of $1.155 billion due to warrant revaluation costs tied to rising share prices.
Topics: AI_infrastructure AMD_partnership colocation_services data_centers