Core Scientific Secures Transformative AMD AI Infrastructure Deal with Path to 2.5 GW
CORZ sits 81% above its 52-week low of $12.595.
Summary
Core Scientific announced a strategic partnership with AMD for up to 2.5 GW of AI data center capacity, starting with 377 MW. AMD received warrants for 30 million shares at $23.47, with 6.5 million vested immediately. The deal adds a second major hyperscale customer and significantly expands the contracted revenue backlog.
Key Events · M&A and Partnerships · CORZ
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AMD AI Infrastructure Partnership
Lease agreements with AMD secure 377 MW of critical IT capacity across three sites in Texas and Oklahoma, while AMD reserves rights for an additional 1,925 MW through 2028 — opening a potential 2.5 GW total.
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Warrant Issuance to AMD
AMD received a warrant to purchase 30 million shares at $23.47 per share, with 6.5 million shares vesting immediately based on the initial 377 MW lease. The warrant, exercisable for five years, was priced at the five-day VWAP prior to signing.
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Neocloud Lease Adds Diversification
A separate 152 MW lease with a Neocloud customer at sites in Auburn, AL and Dalton, GA further diversifies Core Scientific's AI customer base beyond CoreWeave and AMD.
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Contracted Revenue Backlog Surges
The AMD and Neocloud deals push total contracted revenue to over $24 billion, with average annualized colocation GAAP revenue now estimated at approximately $1.8 billion.
Analysis · CORZ · Crypto Assets
A landmark partnership with AMD delivers 377 MW of immediate AI colocation capacity and a clear route to 2.5 GW, validating Core Scientific's pivot to AI infrastructure. The deal brings a tier-one customer alongside CoreWeave. AMD receives a warrant for 30 million shares at $23.47 — near the current stock price — with 6.5 million shares vesting immediately, aligning incentives without deep dilution. A separate Neocloud lease for 152 MW further diversifies the customer base. This marks the second hyperscale win in three months, following the CoreWeave buildout, and positions Core Scientific as a leading AI data center operator with over $24 billion in contracted revenue.
At the time of this filing, CORZ was trading at $22.75 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.