AMD and Core Scientific Announce Major Data Center Partnership
Advanced Micro Devices (AMD) has entered into a significant partnership with data center provider Core Scientific to lease over 500 megawatts of U.S. capacity across five locations, including Texas, Oklahoma, Alabama, and Georgia. The deal includes $14 billion in base contracted revenue for Core Scientific over the next 15 years and gives AMD an option to expand its usage up to 2.5 gigawatts by December 2028. In addition to physical infrastructure access, AMD secured warrants for up to 30 million shares of Core Scientific at $23.47 each, with a portion vesting immediately after the lease agreement was signed. The market reaction has been mixed: while Core Scientific's stock rose sharply in premarket trading, AMD’s share price fell slightly amid broader concerns about AI infrastructure financing and competition. The deal marks a strategic shift for both companies—Core Scientific is transitioning from its previous focus on cryptocurrency mining to colocation services—and highlights the growing demand for reliable data center capacity as AI adoption accelerates.
Topics: AI infrastructure AMD partnership Core Scientific data centers