Core Scientific Reports Strong Q2 Revenue & Profit Growth, Secures Major AMD Partnership for AI Infrastructure
CORZ sits 72% above its 52-week low of $12.595.
Summary
Core Scientific reported strong Q2 2026 operational growth and announced a major AMD partnership, significantly expanding its AI infrastructure capacity and future revenue potential, despite a large non-cash accounting loss.
Key Events · Earnings and Guidance · CORZ
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Strong Q2 Operational Growth
Reported Q2 2026 total revenue of $164.2 million (up from $115.2M in Q1) and colocation revenue of $136.7 million (up from $77.5M in Q1). Gross profit increased to $70.0 million (up from $30.1M in Q1) and Adjusted EBITDA reached $41.1 million (up from $8.9M in Q1).
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Major AMD Partnership Announced
Secured a partnership with AMD with potential to support up to 2.5 GW of leasable capacity, anchored by 15-year agreements for approximately 530 MW across five sites and over $14 billion of potential base contracted revenue.
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Significant Increase in Contracted Capacity
Increased total leased customer power capacity to approximately 1.1 GW, representing over $24 billion of potential contracted revenue. Billing for 437 MW of capacity as of mid-July, representing approximately $635 million in average annualized colocation GAAP revenue.
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Non-Cash Net Loss Explained
Reported a Q2 net loss of $1.155 billion, primarily driven by a non-cash change in the fair value of warrants, reflecting appreciation in the company's stock price during the period. This is an accounting adjustment, not a cash outflow.
Analysis · CORZ · Crypto Assets
Core Scientific announced robust Q2 2026 financial results, demonstrating significant growth in colocation revenue, gross profit, and Adjusted EBITDA. The company also secured a major partnership with AMD, potentially adding 2.5 GW of leasable capacity and over $14 billion in contracted revenue, validating its strategic pivot to high-density colocation for AI workloads. While a substantial net loss was reported, it was primarily a non-cash mark-to-market adjustment related to warrant fair value, reflecting appreciation in the company's stock price, not operational underperformance or cash outflow. This filing confirms strong execution on its AI infrastructure strategy and provides significant long-term revenue visibility.
At the time of this filing, CORZ was trading at $21.69 on NASDAQ in the Crypto Assets sector, with a market capitalization of approximately $6.6B. The 52-week trading range was $12.60 to $30.46. This filing was assessed with positive market sentiment and an importance score of 9 out of 10.