Core Scientific Stock Rises 11% Following $1.2 Billion Data Center Expansion

Core Scientific (CORZ) stock rose over 11% after-hours following a $1.2 billion expansion plan for its Denton, Texas data center in collaboration with CoreWeave. Key points include:

• The expansion will add 70 MW of power, increasing total capacity to approximately 260 MW.
• CoreWeave’s total contracted HPC infrastructure with Core Scientific will reach about 590 MW across six sites.
• This addition supports growing demand for high-density infrastructure for NVIDIA GPU operations.
• Core Scientific is exploring additional sites to enhance its HPC hosting capabilities.
• The partnership has the potential for over $10 billion in cumulative revenue.
• Bitcoin miners are diversifying into AI to adapt to competition and rising energy costs.

CoreWeave is rapidly expanding its infrastructure to meet enterprise demand for AI and GPU-based workloads.