Core Scientific Q2 Revenue Doubles to $164M as AI Colocation Surges, AMD Partnership Targets $14B+
CORZ sits 62% above its 52-week low of $12.595.
Summary
Core Scientific's Q2 revenue more than doubled to $164.2M, driven by AI/HPC colocation revenue surging from $10.6M to $136.7M. Gross profit jumped to $70M from $5M a year ago. The reported net loss of $1.15B is entirely non-cash, tied to warrant revaluation as the stock rose. The company also announced a massive AMD partnership for up to 2.5 GW of AI data center capacity, starting with 530 MW in 2027, with potential contracted revenue exceeding $14B. Total leased capacity now stands at ~1.1 GW, representing over $24B in potential revenue. This follows the Q1 10-Q and recent 8-K filings that detailed the strategic pivot and AMD deal. The revenue mix shift confirms the transformation from Bitcoin miner to AI infrastructure play. Shares dipped 4% post-release, but the operational trajectory is sharply positive.
At the time of this announcement, CORZ was trading at $20.41 on NASDAQ in the Crypto Assets sector, with a market capitalization of approximately $6.5B. The 52-week trading range was $12.60 to $30.46. This news item was assessed with positive market sentiment and an importance score of 9 out of 10. Source: Cointelegraph.