Core Scientific’s AI deal fuels $8.7 billion revenue forecast, shares rise
Core Scientific anticipates generating approximately $8.7 billion in revenue over the next 12 years due to an expanded hosting agreement with CoreWeave. CoreWeave has secured an additional 120 megawatts (MW) of hosting capacity for its High-Performance Computing (HPC) operations, contributing an estimated $2 billion in revenue to the previously projected $6.7 billion from earlier contracts. Infrastructure modifications will occur in the second half of 2025 to support the additional load, with operations expected to commence in the second half of 2026. CoreWeave will finance a $180 million capital investment for these upgrades, credited against hosting fees. The contract includes options for two five-year renewals. Core Scientific will provide a total of 500 MW of HPC infrastructure, enhancing its status as a major data center operator in the U.S. Following the announcement, Core Scientific's stock rose by 5.1%.
