Core Scientific Announces AI Infrastructure Partnership with AMD
Core Scientific (CORZ) has announced a significant partnership with Advanced Micro Devices (AMD), under which it will provide up to 530 megawatts of high-density colocation capacity starting in 2027, potentially scaling to 2.5 gigawatts across its data center network. The deal is expected to generate over $14 billion for Core Scientific and supports AI workloads powered by AMD's Instinct GPUs, EPYC CPUs, and ROCm software. The agreement includes warrants allowing AMD to purchase up to 30 million shares of CORZ at a premium price, aligning long-term incentives. This partnership marks a strategic shift from crypto mining toward high-margin AI colocation services for Core Scientific, expanding its leased footprint to about 1.1 gigawatts and pushing its lifetime contracted revenue pipeline past $24 billion. Analysts remain bullish on CORZ stock with a consensus rating of 'Strong Buy' and an average price target suggesting over 50% upside from current levels.
Topics: AI AMD Instinct GPUs Colocation Data Centers